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Tata Steel
Tata Steel is looking to spend around Rs 20,000 crore as capex in the current financial year and a major share of it will be spent to support the India business, the company's management said. The capex for the ongoing FY27 will be around 38 per cent higher from Rs 14,559 crore that Tata Steel has spent on capital expenditure in the preceding 2025-26 financial year. "In FY26, we spent Rs 14,559 crore on capital expenditure, and we plan to increase this to approximately Rs 20,000 crore in FY 2026-27, with 60 per cent allocated to India," said Tata Steel's CEO & MD T V Narendran, and Koushik Chatterjee, the company's Executive Director & Chief Financial Officer. The management made the statement in reply to a question related to Tata Steel's capex plans and long-term growth strategy. They said the capital allocation strategy for FY27 focuses on a balanced mix of sustenance projects, ongoing investments in value-added downstream and infrastructure projects, new technologies, and .
Tata Steel may have to defer the timeline of its 1.25-billion-pound UK project for transitioning to a low-carbon steel-making process by six to eight months, as the company is facing delays in "securing access to electricity". As part of its decarbonisation plan, Tata Steel is setting up the UK's largest low-carbon EAF (electric arc furnace) project of 3.2 million tonnes capacity at Port Talbot with 1.25 billion pounds of investment to replace its now-shut blast furnace plant of similar capacity. Before experiencing delays in securing power access, the company was looking to begin operations of the EAF project by late 2027 or early 2028. "While we are working with ESO (Electricity System Operator) and National Grid for the new electrical infrastructure, National Grid has formally alerted to us that their connectivity project is delayed," said Koushik Chatterjee, Executive Director (ED) & Chief Financial Officer (CFO) at Tata Steel. The National Grid has informed about some ...
Emergency fire crews on Thursday continued to battle a blaze at Tata Steel UK's steelworks at Port Talbot in south Wales, which a workers' union said had caused "substantial damage". The Mid and West Wales Fire Service rushed several firefighters to the site on Wednesday evening and soon confirmed that on-site workers had all been accounted for and safely evacuated. The company said emergency services remain on site and are working with local teams to completely "extinguish the fire". "The incident is not related to the safe and successful demolition of the empty, redundant Gas Holder earlier yesterday (Wednesday) evening," reads a Tata Steel UK statement. "We would like to thank local site teams and the emergency services for their prompt and professional action," it adds. Unite workers' union general secretary Sharon Graham confirmed that no one was injured in the fire after workers were evacuated safely. "The fire did cause substantial damage to a vital production line. Measur
A 28-30 per cent surge in global freight costs amid geopolitical tensions, including the escalating West Asia situation, is emerging as the biggest challenge for India's steel industry, even as domestic operations and raw material supplies remain largely stable, a senior Tata Steel official said. The sharp rise in shipping rates, triggered by instability in West Asia and the prolonged Russia-Ukraine conflict, is significantly increasing logistics costs for steelmakers dependent on imported coking coal, he said. "For steel, the biggest impact is freight. Freight rates have gone up by almost 28-30 per cent... This is the direct impact. First, the Russia-Ukraine war, and now the West Asia situation... This is definitely having a cascading effect on almost all countries," Tata Steel Vice-President (Corporate Services) D B Sundara Ramam told PTI. Despite global disruptions, the steel industry has so far managed to maintain production levels, though rising freight and logistics costs are