Page 20 - Tata Steel

Tata Steel plans Rs 16,000 cr capex in FY24 for domestic, global operations

Industry giant Tata Steel is planning a consolidated capital expenditure (capex) of Rs 16,000 crore for its domestic and global operations during the current financial year, according to its top management. Of the planned amount, Tata Steel has earmarked Rs 10,000 crore towards standalone operations and Rs 2,000 crore for its subsidiaries in India, the company's CEO & MD T V Narendran and Executive Director & CFO Koushik Chatterjee said. "The projected capital expenditure (capex) for FY2023-24 is set at Rs 16,000 crore on a consolidated basis which is intended to be financed through internal accruals over the full year," the executives said in the company's annual report for 2022-23. Of this, Rs 10,000 crore has been earmarked towards Tata Steel Standalone operations of which the Kalinganagar project will account for approximately 70 per cent, they said. The company is in process of expanding capacity of its plant at Kalinganagar, in Odisha to 8 MT from 3 MT. "Our other Indian

Tata Steel, Germany's SMS group to explore low carbon steel-making tech

Tata Steel has partnered with Germany's SMS group to explore development of low carbon steel making process. As part of the MoU, both companies shall undertake further technical discussions and initiate actions for conducting Joint Industrial Demonstration of the EASyMelt technology developed by SMS group, Tata Steel said in a statement. "The demonstration will be executed at E Blast Furnace in Tata Steel's Jamshedpur plant with an objective to reduce CO2 emission by more than 50 per cent from blast furnace's baseline operation," it said. The EASyMelt (electric-assisted syngas smelter) technology is an iron-making solution that can be implemented in existing integrated steel plants to accelerate decarbonisation. T V Narendran, CEO & MD, Tata Steel, said "We actively look for solutions to facilitate the transition to green steel production, and thus contribute to a sustainable future. Further, India being the second largest steel producer in the world also places a huge ...

Tata Steel inks deal to cut carbon emissions with Germany's SMS group

The objective of the demonstration will be to reduce carbon dioxide emissions by more than 50% from the blast furnace's baseline operation, it added

Tata Steel plant steam leak: 2 in intensive care, 16 remain hospitalised

Two persons injured in an accidental steam leak at Tata Steel's Meramandali plant in Odisha's Dhenkanal district remain in intensive care while 16 others remain hospitalised, a company statement said. The steam leak occurred at around 1 PM on Tuesday during inspection work at the plant and affected workers and engineers. "Of the 18 burn cases admitted to a private hospital in Cuttack, two remain in intensive care... The other injured persons are in stable condition, receiving continuous, high-quality care. "Another person initially admitted for a panic attack at the incident site, is now in good health and expected to be discharged shortly," Tata Steel said in a statement. Dhenkanal SP Gyanaranjan Mohapatra on Tuesday said that around 19 persons were injured in the incident. The injured persons were immediately shifted to the Occupational Health Centre inside the plant premises and then to Cuttack for further treatment.

16 people injured after steam leak at Tata Steel's power plant in Odisha

One person critical; injury victims shifted to Cuttack city: company statement

Tata Steel workers hospitalised after steam leak in Odisha Dhenkanal plant

Few workers at Tata Steel Ltd's plant in Odisha's Dhenkanal were "affected", the company said in a statement on Tuesday. "We are saddened to report an accident at the BFPP2 power plant due to escape of steam at Tata Steel Meramandali Works in Dhenkanal, Odisha," Tata Steel said in the statement. "The accident took place at 1pm during inspection work. The workers were shifted to the occupational health centre inside the plant premises and then to Cuttack for further treatment," the statement said. As a precautionary measure, they were rushed in the company's ambulance, accompanied by doctor and paramedics, it added.

Tata Steel, JSL: Metals can soar up to 11% if index sustains above 6,041

Except Jindal Stainless, other metal stocks require to cross key barrier to rally forward

Stocks to Watch today, June 9: Asian Paints, L&T Fin, HAL, Urja Global

Stocks to watch today, June 9, 2023: Tata Power Renewable Energy, through its subsidiary, has received a contract to set up a 966 MW round-the-clock hybrid renewable power projects for Tata Steel

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

Tata Steel Mining partners with METRON to reduce carbon footprint

Tata Steel Mining Limited (TSML) on Tuesday signed a Memorandum of Understanding (MoU) with French Cleantech company METRON, to design and implement an advanced energy management and optimisation platform for the company's Ferro Alloys Plant located at Athagarh in Odisha's Cuttack district. METRON is a leading provider of cloud-based energy management solutions. According to the MoU, the software solution developed by METRON will enable Tata Steel Mining monitor, analyse, and optimise energy consumption in real time and reduce carbon footprint across plant utilities. A company release said that it will help digitalise energy to decarbonise territories, optimise energy consumption, reduce costs, and improve overall operational efficiency. The cloud-based energy management and optimisation platform will provide real-time visibility of energy usage across the plant, allowing Tata Steel Mining to identify areas for improvement and make data-driven decisions to optimise energy ...

INOX invests in Tata Steel's Dhenkanal plant to set up air separation units

INOX Air Products will invest Rs 1,300 crore to set up two air separation units having capacity of 1,800 tonnes a day each at Tata Steel's plant in Dhenkanal, Odisha, company's Managing Director Siddharth Jain said. The plant is being set up as part of a partnership with the steel major for supplying industrial gases like oxygen, nitrogen and argon -- which are used in the steel making process, the company executive told PTI during an interaction. The air separation units (ASUs) will be the single-largest greenfield investment ever made by INOX Air Products and will support Tata Steel's ongoing steel capacity expansion. The units will separate these gases from the air and supply it to the steel plant, Jain said, adding that the project is expected to be commissioned by March, 2025. When asked about the details of the partnership, he said his company has signed an agreement with Tata Steel for 20 years to supply oxygen, nitrogen and argon, and Rs 1,300 crore will be invested to set

Indian steelmakers look for government support to go the green way

Transition calls for large investment but demand for and premium on eco-friendly steel remains dull

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 Mining signs MoU with BPCL to get LNG for Odisha plant

In an attempt to secure long-term supply of liquified natural gas for its ferroalloys plant located in Odisha's Jajpur, Tata Steel Mining Ltd (TSML) has signed a memorandum of understanding with Bharat Petroleum Corporation Ltd (BPCL). As per the MoU signed here on Thursday, central PSU BPCL will supply the agreed quantity of natural gas through its pipeline to the ferroalloys plant at Jajpur, said TSML, a 100 per cent subsidiary of Tata Steel in a statement. It said that the agreement is a part of TSML's sustainability initiatives and it will aid the business in significantly reducing its carbon footprint because it will allow it to produce ferroalloys using cleaner fuel LNG rather than furnace oil. "Our partnership with BPCL will ensure a steady supply of LNG for our ferro alloys plant in Jajpur. This Memorandum of Understanding is consistent with our commitment to decarbonisation and our sustainability plan, TSML Managing Director Pankaj Satija said. Rouf M Khan, Head (GAS), Eas

Fitch says outlook for Tata Steel positive, stable for JSW Steel

Rating for companies based on their EBITDA growth and improved finances

Stocks to Watch on May 10: L&T, SpiceJet, SCI, Apollo Tyres, Tata Steel

Stocks to Watch today: In a major blow, lessors have approached aviation regulator DGCA for deregistration of three planes of SpiceJet

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

Sensex snaps 8-day winning run, ends 161 pts lower ahead of Fed outcome

Stock market live: Overnight in the US, banking shares declined as investors fret over the stability of small regional banks. The Dow Jones and Nasdaq fell 1.08% each while the S&P 500 shed 1.16%

Tata Steel's Q4 points to divergent cyclical trends in steel markets

So are analyst opinions with ratings ranging between 'hold to 'buy', and valuations between Rs 110 and Rs 132

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'