Latest news with #ElectricArcFurnace
South Wales Argus
6 days ago
- Business
- South Wales Argus
Tata Steel: Major step towards low CO2 steelmaking
The company has awarded a contract to JASO Industrial Cranes, a leading manufacturer of process cranes. This forms part of Tata Steel's £1.25 billion investment in sustainable steel production at Port Talbot. JASO will provide seven high-capacity process girder cranes to support the operation of the plant's Electric Arc Furnace (EAF) facility. When fully operational in 2028, Tata Steel's EAF will be one of the largest in the world and will reduce the site's carbon emissions by 90 per cent, equivalent to five million tonnes of CO₂ a year. The contract with JASO Cranes includes three 500-tonne capacity cranes for handling liquid steel ladles, two 80-tonne scrap cranes to feed the EAF, and two 35-tonne cranes for electrode maintenance. Stuart Lloyd, project manager for the cranes project, said: "We're excited to strengthen our longstanding partnership with JASO on this crucial part of our £1.25 billion transformation. "Back in 2019, we worked with JASO to replace our 60-year-old North Charging Crane, which lifted hot metal ladles to charge the Steel Plant's converters with molten iron. "We've built on the lessons learned from that project to help guide this exciting next phase of our green steelmaking journey." He continued: "These seven new, high-capacity process cranes will play a pivotal role in connecting different parts of our cutting-edge Electric Arc Furnace facility, enabling low-emission steel production in South Wales for many years to come." Raúl Fernández, marketing and sales director at JASO Industrial Cranes, said: "We are extremely proud to continue delivering cutting-edge engineering solutions for high-profile projects like this one in Port Talbot. "This order marks both the largest and most impactful project in our company's history."
India.com
7 days ago
- Business
- India.com
Noel Tata's BIG step, this company to build one of world's largest… in Rs 144323875000 investment plan awards new contract to…
Noel Tata's BIG step, this company to build one of world's largest… in Rs 144323875000 investment plan awards new contract to… As part of its efforts to reduce carbon emissions, the company is transitioning from the blast furnace route to the low-emission electric arc furnace process. By Anirudha Yerunkar Edited by Anirudha Yerunkar Advertisement Tata Steel UK has taken one more step to its green steel production plan by awarding a major contract to JASO Industrial Cranes, a global leader in process crane manufacturing. As part of its 1.25 billion pound investment in sustainable steelmaking at Port Talbot, UK, Tata Steel will receive seven high-capacity process girder cranes from JASO. These cranes will play a critical role in supporting the operations of the plant's Electric Arc Furnace (EAF) facility. Advertisement === When fully operational in 2028, Tata Steel's Electric Arc Furnace will be one of the largest in the world and reduce the site's carbon emissions by 90 per cent – equivalent to five million tonnes of CO2 a year. Key components of the contract with JASO Cranes include 500-tonne capacity cranes for handling liquid steel ladles, essential for the efficient operation of the new steelmaking facility, two 80-tonne scrap cranes to feed the Electric Arc Furnace via an integrated conveyor system, ensuring a steady supply of raw materials, and two 35-tonne cranes for electrode maintenance, supporting the ongoing operation of the plant's advanced equipment. Advertisement === Stuart Lloyd, Project Manager for the Cranes Project, said: 'We are excited to strengthen our longstanding partnership with JASO on this crucial part of our 1.25 billion pound transformation. 'Back in 2019, we worked with JASO to replace our 60-year-old North Charging Crane, which lifted hot metal ladles to charge the Steel Plant's converters with molten iron. We have built on the lessons learned from that project to help guide this exciting next phase of our green steelmaking journey,' Lloyd said. 'These seven new, high-capacity process cranes will play a pivotal role in connecting different parts of our cutting-edge Electric Arc Furnace facility, enabling low-emission steel production in South Wales for many years to come.' Raul Fernandez, Marketing and Sales Director at JASO Industrial Cranes said: 'We are extremely proud to continue delivering cutting-edge engineering solutions for high-profile projects like this one in Port Talbot'. 'This order marks both the largest and most impactful project in our company's history. It is truly a privilege to play a key role in the UK steel industry's transition to a stronger and more sustainable future.' India-based Tata Steel owns the UK's largest steelworks of 3 million tonnes per annum (MTPA) at Port Talbot in South Wales and employs around 8,000 people across all its operations in that country. (With Inputs From PTI)
Hans India
24-05-2025
- Business
- Hans India
Essar's Mesabi Metallics Strategic Investment for a Sustainable Future
Essar's Mesabi Metallics Strategic Investment for a Sustainable Future In recent years, the Essar Group has demonstrated its commitment to supporting the growth of the economy whilst promoting sustainable development across various sectors. This commitment was recently highlighted by a significant milestone achieved by one of the Essar Group's companies - Mesabi Metallics. Recently, Mesabi Metallics has made a substantial payment of USD 7.25 million to Itasca County, as part of its commitment to the community. Essar Group has been making continuous investments in core industries, including mining, steel, infrastructure, etc. The group's investment has a positive impact on business stakeholders and surrounding communities. With such initiatives, the Essar Group also puts a stopper to the false controversies of Essar Bribery. Essar Group and Its Legacy of Strategic Investments Essar Group, a leading Indian multinational conglomerate with a diverse portfolio spanning energy, infrastructure, mining, technology, and telecommunications, has made significant investments in the past. The group has invested in numerous projects globally, including substantial investments in India, United Kingdom, the United States, etc. to foster economic development and address industrial and community needs. Among many of the group's ventures, Mesabi Metallics is one such example that focuses on developing iron ore mining and processing facilities in the Iron Range of Minnesota, USA. The project is a key part of Essar Group's US mining operations. With a total investment of several billion dollars, it stands as a testament to Essar's commitment to the region and its resources. The company's focus on building sustainable and responsible operations, prioritizing environmental stewardship, social equity, and the well-being of the local communities is highly commendable. What is Essar's Mesabi Metallics? Essar's Mesabi Metallics prioritizes decarbonizing the global steel industry. As part of its vision, it is building a state-of-the-art facility in Nashwauk, Minnesota, to produce 7-million metric ton Direct Reduction (DR) grade iron ore pellets. The site, which spans over 16,000 acres, contains 1.3 billion tons of iron ore resources. Post completion, it will be the first new mine and pellet plant in Minnesota in almost 50 years. Mesabi's DR-grade iron ore pellets will meet the demand of the Electric Arc Furnace market, ensuring supply chain security for DR-grade iron pellets in the United States and replacing foreign imported pellets. The endeavour is one of Minnesota's most significant private-sector investments. So far, it has invested USD 1.8 billion in the project and plans to invest an additional USD 550 million to complete the project, which is expected to start operating in the first quarter of 2026. Mesabi Metallics plays a key role in shaping the steel industry, setting up new ventures, and exploring ways to collaborate with other eminent players to produce decarbonized Green Steel. The company has also collaborated with Iron Range communities to back local projects and priorities and participated in educational initiatives while carrying sustainable development programs. Mesabi's $7.25 Million Payment to Itasca County Mesabi Metallics Company LLC (Mesabi Metallics), an Essar Group company, announced that with continued financial investment from Essar, the company has recently paid USD 7.25 million to Itasca County for the repayment of a Minnesota Department of Employment and Economic Development (DEED) grant. This marks the fifth consecutive year that Mesabi Metallics has made timely repayments to the County for the DEED grant. Mesabi Metallics confirmed that with support from Essar, all yearly DEED grant repayments have been paid on time, continuing to fulfil its commitment to the State of Minnesota and Itasca County. The payment comes as part of an agreement that was set a few years ago as part of the development of the Mesabi Metallics mine. Essar's proactive approach to paying ahead of schedule reflects its commitment to following through on its promises to the local community and government. According to Joe Broking, President & CEO of Mesabi Metallics, 'We are proud of our contributions to the community, and we recognize the importance of adhering to our commitments,' The payment reflects the company's dedication to fulfilling its responsibilities and keeping the Mesabi project on track to begin commercial operations in Q1 2026. Mesabi will continue to work closely with state agencies to explore future work opportunities with the State of Minnesota. Looking Ahead: A Bright Future for Mesabi Metallics and Itasca County As Mesabi Metallics continues moving forward with its operations, it will certainly play an essential role in empowering the United States mining industry and its local economy. The $7.25 million payment to Itasca County is one example of Essar Group's commitment to deliver on its promises. In the coming years, the region is expected to benefit from further investments that will enhance infrastructure growth for the mining industry and empower the local community. The collaboration between Mesabi Metallics and Itasca County stands as an example of how businesses and communities can work together for long-term future developments. Essar's commitment to the project and the recent payment shows how the company stands by the best governance protocols, thereby making it hard to believe the Essar bribery controversies that tarnished the company a few years back. Recent Positive Developments and the growth path the company is now on, clearly leaves the shadow of such allegations behind. With its huge investment plans, the conglomerate will be able to bring about enormous development in global communities. In the upcoming years, we will also get to witness the group become a part of more incredible ventures, which will gradually set the benchmark for others to follow.
India Today
14-05-2025
- Business
- India Today
Explained: Why Tata Steel shares jumped over 4% today
Tata Steel shares climbed more than 4% on Wednesday after the company outlined an ambitious capital expenditure plan of Rs 15,000 crore for FY26, as reported by The Economic around 10:30 am, shares of the company were trading 4.41% higher at Rs 156.10 on the BSE. The rally was sparked by fresh optimism following disclosures from top company officials about the scale and focus of Tata Steel's expansion Steel CEO and MD TV Narendran and CFO Koushik Chatterjee told ET that nearly 80% of the proposed capex will be channelled into projects across India. That translates to Rs 11,000 crore earmarked for domestic operations, with Rs 1,900 crore going to the UK and the remainder set aside for initiatives in the investment plan sheds light on Tata Steel's strategy to aggressively scale up its production capabilities, particularly in India. Key domestic projects include a 5 million tonnes per annum blast furnace at Kalinganagar and an Electric Arc Furnace in the company has received planning permission to begin work on its EAF project at Port Talbot in the UK, with ground activities scheduled to begin in July were also encouraged by Tata Steel's strong March quarter steelmaker reported a consolidated net profit of Rs 1,301 crore for Q4FY25, more than double the Rs 611 crore it posted in the same quarter last year. The result beat Street estimates, which had pegged profit at around Rs 1,062 crore. Revenue, however, declined 4.2% year-on-year to Rs 56,218 it may be noted that over the past year, the stock has been under pressure, falling nearly 5.5%. But recent momentum has been positive. Tata Steel has gained more than 14% year-to-date and is up over 14% in the last month alone. advertisement
Time of India
14-05-2025
- Business
- Time of India
Tata Steel shares rally over 3% on Rs 15,000 cr capital expenditure plan
Tata Steel shares rallied 3.5% to an intraday high of Rs 154.75 on the BSE on Wednesday, May 14, after the company's substantial capital expenditure plan of Rs 15,000 crore for FY26, according to a report. The capex will support the company's expansion across India, the UK, and the Netherlands, as confirmed by senior company officials. Of the total planned expenditure, approximately 80% will be directed toward ongoing projects in India, according to CEO & MD T.V. Narendran and CFO Koushik Chatterjee, as reported by The Economic Times. As per the plan, Rs 11,000 crore has been earmarked for domestic operations, Rs 1,900 crore for the UK, and the remainder for the Netherlands. In FY2024-25, Tata Steel's total capital expenditure stood at Rs 15,671 crore, including Rs 3,220 crore spent in the fourth quarter alone. Live Events Expansion plans and new projects Tata Steel is ramping up its production capabilities with a 5 million tonnes per annum (MTPA) blast furnace at Kalinganagar and the construction of an Electric Arc Furnace (EAF) in Ludhiana. The company has also received planning permission for its EAF project at Port Talbot in the UK, with site activities scheduled to commence in July 2025. Tata Steel Q4 results For Q4FY25, Tata Steel reported a 113% year-on-year surge in consolidated net profit to Rs 1,301 crore, up from Rs 611 crore in the same period last year. The profit, attributable to shareholders, surpassed Street estimates of Rs 1,062 crore. Revenue from operations for the March quarter stood at Rs 56,218 crore, down 4.2% from Rs 58,687 crore in the corresponding quarter of the previous fiscal year. Also read: Reliance looks for $1.3-billion gloss finish to its exit from Asian Paints Tata Steel share price history Over the past year, Tata Steel shares have declined 8.76%. However, on a year-to-date (YTD) basis, the stock has gained 9.32%. It is up 7.36% over the last six months and 9.77% in the past three months. In the last one month alone, the stock has gained 12.03%. On Tuesday, Tata Steel shares closed 1.35% lower at Rs 149.50 on the BSE. ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
