T V Narendran

At current steel prices, margins don't justify investments: Tata Steel CEO

T V Narendran tells that in many ways second quarter of FY25 was the worst, but Q3 also comes with challenges

Ratan Tata extraordinary leader who encouraged others: Tata Steel MD

Ratan Tata was an extraordinary leader who encouraged others to push boundaries, said Tata Steel CEO and MD TV Narendran while condoling the demise of the industry veteran. "Tata guided Tata Steel through some very challenging and transformative times. He was a mentor to countless individuals, inspiring us with his unwavering commitment to the betterment of humanity," Narendran said. He was an extraordinary leader who led with great vision and who always encouraged us to push the boundaries of our aspirations. His unparalleled contribution to industry, philanthropy, and nation-building has left an indelible mark on society, he added. Ratan Tata became thr Chairman of Tata Steel in 1993. Alok Sahay, the Secretary-General of the Indian Steel Association (ISA), said India owes its legacy in steelmaking to the Tata Group, which gave the country its first integrated steel unit in 1907 at Jamshedpur in Jharkhand. Ratan Tata made Tata Steel a global brand. His inspiring legacy will conti

Cheap Chinese imports hurting domestic market: Tata Steel's T V Narendran

Tata Steel MD and CEO warned that low-priced Chinese steel may impact Indian cos capex plans

2,500 job cuts inevitable in Tata Steel's UK operations: CEO Narendran

Loss of jobs for around 2,500 workers at Tata Steel's operations in the UK, which are in a transition phase, is "inevitable", the company's CEO T V Narendran said. Fear of job losses has attracted criticism of the workers' unions and they are continuously protesting against the company in the UK. India-based Tata Steel owns the UK's largest steelworks of 3 million tonne per annum (MTPA) at Port Talbot in South Wales and employs around 8,000 people across all its operations in that country. As part of its decarbonisation plan, the company is shifting to low-emission electric arc furnace (EAF) process from the blast furnace (BF) route which is nearing its end of life cycle. Speaking to PTI, Narendran said the transition to EAF with the UK government aid will make the company competitive in terms of reduced production cost, and also help in reduction of 5 million tonnes of Co2 per year. "But all this involves 2,500 job losses and that is what the unions obviously are not happy with.

No better story than steel in reviving private capex: Tata Steel MD & CEO

In India, we expect the EBITDA per tonne to be a little lower though the spreads have improved a bit because it's a quarter where we have a lot of shutdowns, said TV Narendran

Need to be watchful about steel imports amid surge, says T V Narendran

As steel imports continue to surge, Tata Steel CEO T V Narendran has said there is a need to be watchful about the situation. The comment comes at a time when India has reported a 38 per cent surge in steel imports to 8.319 million tonnes, becoming a net importer of the commodity during the 2023-24 financial year. Speaking to PTI, the industry executive said, "It would be a pity if the situation continues in the long run. We have to be watchful about imports." As long as it is unfair imports, the government needs to deal with it, Narendran said without elaborating further. Steel consumption is expected to grow 8-10 per cent in the ongoing 2024-25 fiscal year, he said in reply to a separate question on demand. Steelmakers have been raising concerns on increasing imports from certain countries, including China and seeking the government's intervention on the issue. Domestic players have also been demanding a curb on imports and review of free trade agreements (FTAs) with several ...

India fastest growing economy in world, says Tata Steel CEO T V Narendran

Tata Steel CEO and Managing Director T V Narendran claimed India is the fastest growing economy of the world and the next three decades are important for the country on the development front. China has emerged rapidly during the last 30-40 years and the next 30 years are important for India, which is the fastest growing economy of the world, Narendran said while addressing the members of Singhbhum Chamber of Commerce and Industry (SCCI) here on Tuesday evening. "Currently, China is the largest steel-producing country in the world and we are second. In view of the global challenges being faced by the steel sector, we have to move forward keeping in mind the steel prices", the Tata Steel MD said. "Today, India is the world's fastest-growing economy and the infrastructure sector witnessed rapid momentum during last two/three years, which resulted in growing steel supply by the private steel major", he said. As Tata Steel's Jamshedpur plant is located in a densely populated area, there

Job cuts in Britain 'least bad option', will continue talks: Tata Steel CEO

The steelmaker will close its two blast furnaces in Britain by the end of this year, axing up to 2,800 jobs at its Port Talbot steelworks in Wales

Steel industry hopes Budget will focus on infra, fair trade measures

Companies want support for capacity addition and anti-dumping measures against substandard imports

Domestic steel sector still in recovery mode post-Covid: Tata Steel CEO

The steel sector in the country is still in recovery mode after the Covid pandemic, Tata Steel CEO and MD T V Narendran said on Monday. He said demand for steel will continue to grow, backed by the government's focus on infrastructure development. This (2023) has been good year for the steel sector in India, even though it was a challenging period globally, Narendran said here. The recovery of the steel industry is still continuing post the global pandemic. In fact, we recovered well due to good handling of micro-economy by the RBI, and the investment that has been made for infrastructure development, he said at a New Year programme here. The demand for steel grew 10-12 per cent in 2023 and this trend should continue, he said, while expressing apprehension about increasing import of steel from China. China has been exporting 8 million tonnes of steel every month (in 2023), which was the highest since 2015, and this has an impact on international steel prices as well as profitabili

Tata Steel seeks financial aid for Netherlands unit; to submit proposal

After securing a funding in the UK, Tata Steel is looking for a financial aid from the Netherlands government to execute its decarbonization plans. In October 2021, Tata Steel completed the process of separating Tata Steel UK and Tata Steel Netherlands as two independent companies from Tata Steel Europe. "In Netherlands, we will shortly be submitting the detailed decarbonization proposal to the Dutch government seeking regulatory and financial support," Tata Steel CEO & MD TV Narendran said. Tata Steel Netherlands has been working intensely with Government of Netherlands on the contours of the decarbonization project covering emission and health standards. The detailed decarbonization proposal will shortly be submitted to Government of Netherlands seeking regulatory and financial support which is critical for the company's Dutch operations. Both parties will then discuss the detailed conditions of the project, a Tata Steel statement said. The board of Tata Steel will duly ...

Tata Steel aims to complete decarbonisation at UK plant in next 3 yrs: CEO

Tata Steel aims to complete decarbonisation journey at its plant in the UK in next three years, the company's CEO T V Narendran said. As part of its decarbonisation plan, the company will shift to low-emission electric arc furnace (EAF) process from the blast furnace (BF) route which is nearing the end of life in the next couple of months. India-headquartered Tata Steel owns the UK's largest steelworks of 3 million tonne per annum (MTPA) at Port Talbot in South Wales and employs around 8,000 people across all its operations in that country. "Consultation process with the unions is going. We also need a number of (other) permissions. Some of the infrastructure needs to be upgraded. There is a lot of work that needs to be done. It has already started. We are hoping that in the next three years we should complete the entire journey," Narendran told PTI. He made the remarks in reply to a question about the timeline for the company's decarbonisation plan, which Narendran had earlier sai

Tata Steel CEO new chairman of Board of Governors of IIT Kharagpur

T V Narendran, CEO and Managing Director of Tata Steel Limited has been appointed the new chairman of the Board of Governors of IIT Kharagpur. IIT Kharagpur Director V K Tewari on Tuesday said, "We welcome T V Narendran as the new chairperson of the Board of Governors of IIT Kharagpur. As a man beholding technical and industrial supremacy, he understands the need of the society and practical implications of industry-academia amalgamation with a technical institution. "We look forward to his able guidance, constructive ideations and supportive encouragement in reshaping this institute for its future aspirations." An IIT Kharagpur statement said Thachat Viswanath Narendran is the Chairman of Tata Steel Europe and Tata Steel Long Products Limited and oversees the organic and inorganic growth of Tata Steel over the last few years with over 34 years of experience in the mining and metals industry. Narendran is a mechanical engineer from the National Institute of Technology (NIT) Trichy

Tata Steel plans to scale up usage of hydrogen in steel making process: CEO

Tata Steel plans to scale up the usage of hydrogen in the steel making process after the successful completion of the pilot project at its Jamshedpur plant, in Jharkhand, the company's CEO and MD T V Narendran said. In April 2023, Tata Steel commenced the first of its kind experiment injecting hydrogen gas using 40 per cent of the injection systems in E-blast furnace at its steel plant in Jamshedpur, Jharkhand. "It was very successful, we will scale it up, But eventually we need to have green hydrogen available in Eastern India that will determine how it can be used," Narendran told PTI in reply to a question on the results of the trials. However, he did not tell the quantum in which the company plans to increase the usage of hydrogen. Injection of hydrogen in blast furnaces helps reduce consumption of coal leading to reduction in carbon footprint. "This is the first time in the world that such a large quantity of hydrogen gas is being continuously injected in a blast furnace," he

T V Narendran re-appointed as Tata Steel's CEO and MD for 5 years

Tata Steel on Monday said T V Narendran has been appointed again as the company's Chief Executive Officer & Managing Director for a period of five years effective September 19, 2023. His present tenure as CEO & MD will conclude on September 18, 2023, Tata Steel said in a regulatory filing. "T V Narendran is appointed as CEO & MD of the Company for a further period of five years effective September 19, 2023...not liable to retire by rotation," it said The re-appointment is subject to shareholders' approval, the company said. He has over 35 years of experience in the mining and metals industry. Narendran joined Tata Steel in 1988. He was appointed as Managing Director of Tata Steel for India and South East Asia on November 1, 2013. In October 2017, Tata Steel elevated Narendran as Chief Executive Officer and Managing Director globally. As the CEO & MD, he has overseen the organic and inorganic growth of Tata Steel over the last few years. Narendran oversaw the ...

Tata Power Renewable Energy arm to set up 966 MW project for Tata Steel

We believe that renewable energy is the future, said T. V. Narendran, CEO & MD, Tata Steel

Enough opportunities to take capacity to 40 MT in India: Tata Steel CEO

Tata Steel sees enough growth opportunities within its existing facilities to actualise an expansion plan to achieve 40 million tonne capacity in India by 2030, almost double of its current capability in the country, CEO and Managing Director T V Narendran said. The steel giant will continue to hold talks with the UK government over a financial package for operations there, he said. The company has planned capital expenditure to the tune of Rs 12,000 crore for India operations, he said. "In India, basically we want to increase the capacity. We have already around 21 MT. It will be 25 MT soon because the Kalinganagar expansion is going on. We have a few more plans - Neelachal, Kalinganagar and Meramandali or Angul to achieve 40 million tonne capacity by 2030," Narendran told PTI in an interview here. There are multiple ongoing projects at various locations in India and the company has prioritised completion of the 5 MTPA Kalinganagar expansion", he said. The company is in the proce

Tata Steel CEO Narendran expects Europe ops to improve from July-Sept

Europe is still struggling but things are getting better because energy prices have come down, T.V. Narendran told Reuters in an interview

Will come to a decision on UK biz in 12 to 24 months: Tata Steel MD & CEO

'We have planned a capex of Rs 16,000 crore. Of this, roughly, Rs 4,000 crore is in Europe, with the Netherlands accounting for about Rs 3,000; the balance will be in the UK'

Merger of 7 subsidiaries with Tata Steel to complete by FY24: CEO Narendran

The merger of 7 subsidiary companies with Tata Steel is expected to be completed in 2023-24 fiscal year, its CEO and managing director T V Narendran said. In September 2022, Tata Steel board had approved a proposal to merge six of its subsidiaries into itself for greater synergies, higher efficiency and reduce costs. "We had already announced (merger of) 6 companies earlier. (Merger of) one more Angul Energy we announced recently," he told PTI in reply to a question on the timeline for the merger. However, the completion of the merger depends on the regulatory processes including NCLT clearances, post which the process is expected to be completed in the next financial year, the CEO said. "We are dependent on the speed at which we can go through our regulatory requirements," he added. Besides Angul Energy, the six subsidiaries to be merged with Tata Steel are Tata Steel Long Products (TSPL), The Tinplate Company of India, Tata Metaliks, TRF, Indian Steel & Wire Products, and Tata .