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Atmanirbhar move: Tata Steel to source entire domestic requirement from Hind Zinc

Under the MoU, Hindustan Zinc will cater to both Tata Steel & Tata Steel BSL

Topics
Tata Steel | Hindustan Zinc | Atmanirbhar Bharat Mission

Aditi Divekar  |  Mumbai 

In the first quarter of FY21, Tata Steel Europe’s EBITDA loss was at Rs 626 crore, owing to a weak European market
Under this MoU, Hindustan Zinc will cater to both Tata Steel & Tata Steel BSL (Earlier known as Bhushan Steel Limited, now a subsidiary of Tata Steel).

Tata Steel, the country’s oldest producer, has signed a Memorandum of Understanding to procure its complete domestic requirements from Hindustan Zinc, India's largest and the world's fifth largest producer.

The move has paves way to bolster the idea of Aatmanirbhar Bharat with one of the largest choosing to become ‘vocal for local’.

Under this MoU, will cater to both & BSL (Earlier known as Bhushan Steel Limited, now a subsidiary of Tata Steel).

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“This MoU is a joint step by and towards Atmanirbhar Bharat. While Global technical experts deliver curated technical services for productivity and quality improvement, Vendor Managed Inventory will ensure significantly lower inventory costs across Tata Steel units. This is a first of its kind partnership in the non-ferrous metals industry and is reflective of our commitment to being value creators for our partners and towards nation-building,” the release quoted Arun Misra, chief executive officer of as saying.

Hindustan Zinc has implemented a vendor management inventory (VMI) solution for Tata Steel.

As the first VMI customer Tata Steel's inventory and stock will be closely monitored. Upon sensing a shortage on a real time basis, the material shall be delivered on impromptu basis from Hindustan Zinc warehouses with no risk to operation. Besides, Hindustan Zinc will also keep safety stock at all their depots across India for

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First Published: Mon, November 09 2020. 18:08 IST
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