Page 22 - Tata Steel

Tata Steel in advanced talks to secure funds for UK plant: Reports

Tata Steel is in advanced talks with the UK government to agree around GBP 500 million in state-backed funding to secure the future of its Port Talbot plant in South Wales, according to UK media reports this weekend. The Indian steel major has been in long-drawn discussions related to the critical green transition of the UK's largest steelworks, involving thousands of jobs in the country's steel industry. According to a Sky News' report on Saturday, both sides are now close to agreeing a deal that would commit millions to the future of the Port Talbot steelworks. "Tata Steel is continuing to discuss with the UK government a framework for continuity and decarbonisation of steel making in the UK amidst very challenging underlying business conditions given that several of its heavy end assets are approaching end of life, a Tata Steel spokesperson told PTI, when asked about the development. "Given the financially constrained position of our UK business, any significant change is only .

Metal stocks shine; Tata Steel, Hindustan Copper, SAIL surge up to 5%

The key steel consuming sectors are expected to perform well in FY24, supported by a rise in infrastructure spend by the Government and gradually improving semiconductor supply

Tata Steel inks MoU with IIT, Dhanbad for flagship MTech internship prog

Tata Steel on Wednesday signed an MoU with IIT (Indian School of Mines), Dhanbad for a flagship MTech internship programme, the company said in a statement. The memorandum of understanding (MoU) was signed between IIT (ISM) Dhanbad Officiating Director Professor J K Pattanayak and Tata Steel Vice President (HRM) Atrayee Sanyal in the presence of senior officials. The objective of the MoU is to offer 6-12 month-long internship to top talents from IIT (ISM) Dhanbad at Tata Steel. The programme will enable Tata Steel to nurture new talent and give them long-term opportunities in the company, the statement said. "We are excited to launch this flagship MTech internship programme for the students of IIT (ISM) Dhanbad. This programme is an excellent opportunity for MTech students to gain valuable experience in R&D and technology while also providing Tata Steel with access to top talent," Sanyal said.

Tata Steel CEO TV Narendran new chairperson of IIT-Kharagpur's board

Tata Steel Ltd's CEO and MD TV Narendran was appointed the new chairperson of the board of governors of IIT-Kharagpur, a statement said. IIT-Kharagpur director VK Tewari said that as a man beholding technical and industrial supremacy, Narendran understands the needs of the society and the practical implications of industry-academia amalgamation with a technical institution. "We welcome TV Narendran as the new chairperson of the Board of Governors of IIT Kharagpur," he said. "We look forward to his able guidance, constructive ideations and supportive encouragement in reshaping this institute for its future aspirations," he added. Narendran has over 34 years of experience in the mining and metals industry, the statement said, adding that he is a mechanical engineer from NIT-Trichy and an MBA from IIM-Calcutta.

How steelmakers are turning up heat in furnaces for the war on emission

The startup world is also being tapped for innovative solutions by Tata Steel, ArcelorMittal, as well as JSW

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

No 'silver bullet' for green transition, needs govt support: Tata Steel CEO

There is "no silver bullet" for green transition in hard-to-abate sectors, including steel, Tata Steel global CEO & MD T V Narendran said on Saturday, noting it's a complex challenge and needs government support. The statement from the industry leader comes amid growing concerns across economies over emissions, and need to increase usage of green energy. Steel is the most commonly used metal in the world and one cannot do without steel. Even for the transition, steel will be needed whether to hold solar panels up, windmills, storage and pipelines, he said addressing a session at B20 Summit India 2023. "You need to find a solution and there is no silver bullet for that...India is alone going to add 100-150 million tonne steel capacity every decade...for the next few decades you will have these hard-to-abate sectors growing, cement production is twice the amount of steel production globally...you need to find solutions which are technical, which don't get solved by just finding ...

ACME Group to invest nearly $3.3 bn in green hydrogen project in Odisha

ACME Group will acquire 343 acres of land in Gopalpur Industrial Park, developed by the Tata Steel Special Economic Zone in the state

Sonari airport powered through solar power with commissioning of 2.0 MWp

The entire operations of Tata Steel-owned Sonari Airport here will now be powered through solar energy with the commissioning of a ground-mounted solar power project of 2.0 MWp (Megawatt peak) capacity, a company statement said on Wednesday. The project commissioned on Monday has been commissioned by Tata Power under an agreement with Tata Steel for the installation of a total of 41 MW with a combination of rooftop, floating and ground-mounted solar panels across its locations. Earlier, four rooftop solar projects totalling 7.65 MWp have been commissioned at its Central Warehouse, Cold Rolling Mill, Wire Rod Mill and Hot Strip Mill. A floating solar power project of 10.8 MWp in Tata Steel Jamshedpur Works is also nearing completion.

Stock markets trade in red on weak industrial output, global cues

Metal stocks were the top drag, falling about 2%, while auto, public sector bank index were down over 1%, each

Not so keen on any other new acquisitions: Tata Steel CEO Narendran

Tata Steel - which is in an expansion mode in India - is not so keen on any other new acquisitions, the company CEO T V Narendran has said. The statement from Narendran has come amid Vedanta Ltd reviewing and evaluating its steel and steel-making raw materials businesses. In June, Vedanta Ltd said it will immediately begin the review and evaluate a broad range of options including potential strategic sale of some or all of its steel businesses. "Not so keen on any other new acquisitions... We don't need it," Narendran said in a reply to a question on his company's interest in buying Vedanta Ltd's steel business. There is a lot to do at Tata Steel's existing sites, he added. The company has a plan to scale up its annual installed steel making capacity to 40 million tonnes per annum (MTPA) by 2030 in India, from around 22 MTPA at present. In June 2018, Vedanta Limited acquired Jharkhand-based steel company ESL Steel Limited through an insolvency resolution process. The company set

Tata Steel to bid for iron ore mines ahead of expiry of leases in 2030

Lease of 4 of its ferrous mines to expire in 7 yrs, even as prepares to double steelmaking capacity

Tata Steel 1st Indian firm to use LNG powered carrier for raw material

Tata Steel became the first Indian company to use clean fuel Liquified Natural Gas (LNG) powered Capesize carriers for its raw material movement from Australia to India, the company said on Friday. In an initiative to lower the company's Scope 3 carbon footprint, the steel major imported 1,65,700 metric tons of coal from Australia's Gladstone to Dhamra port in Odisha using MV Ubuntu Unity, a cape vessel powered by clean fuel LNG. Capesize' is the largest class of cargo ship. They are called so as they cannot pass through the Panama Canal and have to go around the Cape of Good Hope to sail between the Pacific and Atlantic oceans. "In 2021, Tata Steel became the first in the Indian Steel Industry to deploy a ship powered by biofuel. We continued the decarbonation drive with seven biofuel shipments in FY23. In continuation to our sustainability drive, in FY24, we are the first to deploy an LNG powered vessel for transportation of raw materials to India," said Peeyush Gupta, the ...

Tata Steel expects lower steel prices in July-September quarter: CEO

The company, backed by India's Tata Group, sees Indian steel industry prices in line with prices globally and not impacted by aggressive imports, Narendran said

Talks with UK govt have picked up significantly: Tata Steel's T V Narendran

T V Narendran, Tata Steel MD & CEO, tells that collectively the Tata group is one of the biggest investors and employers in the UK

Stocks to Watch: Tata Steel, RIL, Maruti, TVS Motor, HDFC AMC, JK Paper

Stocks to Watch on July 25, 2023: Asian Paints, Bajaj Auto, Cyient, CEAT, Delta Corp, Jubilant FoodWorks, KPIT Tech, Larsen & Toubro, SBI Life and Tata Motors will release their Q1 results today

Tata Steel Q1 results: Net profit plunges 92% but still beats estimates

Net profit was Rs 633.95 crore and revenue from operations Rs 59,489.66 crore, 6 per cent lower from a year ago

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 Steel Q1 consolidated net profit falls over 93% to Rs 524.85 cr

Tata Steel on Monday posted over 93 per cent decline in consolidated net profit to Rs 524.85 crore for the April-June quarter of 2023-24 on account of higher expenses. It had posted Rs 7,714 crore net profit in the corresponding period of 2022-23, according to a company filing to exchanges. Total income also declined to Rs 60,666.48 crore from Rs 63,698.15 crore in the year-ago quarter, a fall of 4.75 per cent. Expenses soared to Rs 58,553.25 crore in the first quarter of FY24 as against Rs 51,912.17 crore a year ago.