Latest news with #ElectricArcFurnace
GMA Network
6 days ago
- Business
- GMA Network
SteelAsia unit's P30-B heavy steel recycling mill gets green lane status
Candelaria Steel Inc. facility in Candelaria, Quezon. Photo courtesy of SteelAsia The Board of Investments has granted green lane status to Candelaria Steel Inc.'s, a subsidiary of SteelAsia Manufacturing Corp., P30-billion heavy section mill and new-generation scrap recycling mini-mill project in Candelaria, Quezon. In a news release on Wednesday, the BOI said it awarded Green Lane Certification to Candelaria Steel last July 3, 2025. Obtaining green lane status expedites permit and license issuance, including resolving strategic investment issues. In February 2024, President Ferdinand Marcos Jr. issued Executive Order 18 mandating the creation of green lanes as part of efforts for ease of doing business and promoting strategic investments. Strategic investments are those that are aligned with the Philippine Development Plan or any similar national development plan and can be characterized by the significant capital or investment to the country; consequential economic impact; positive impact on the environment; significant contribution to the country's balance of payments; with complex technical processes and engineering designs; and will improve the country's infrastructure capabilities. The BOI said Candelaria Steel's facility is scheduled to begin commercial operations by July 2027. The facility is expected to generate approximately 655 in-plant jobs and 3,000 indirect jobs, 'boosting local economic activity and enhancing the domestic steel supply chain.' The steel maker's project involves the construction of a state-of-the-art facility that will employ Electric Arc Furnace (EAF) technology, prioritizing sustainability by using locally sourced recycled scrap metal instead of imported raw materials. According to SteelAsia, the recycling process reduces CO2 emissions by a minimum of 70% compared to traditional blast furnace methods. The BOI said the plant will produce up to one million metric tons of heavy steel sections annually, including angles, channels, H-beams, I-beams, sheet piles, and universal mill plates. The project is strategically designed to address the country's heavy reliance on steel imports, which currently adds 3 to 4 months to local production timelines, the BOI said. The Candelaria steel mill will complement SteelAsia's medium section mill in Lemery, Batangas, which was also endorsed for Green Lane Certification by the BOI in 2023. The Lemery facility, currently under construction, will produce medium sections and merchant bars—products that are currently 100% imported. Both plants intend to supply the Bataan-Cavite Interlink Bridge Project and help close critical gaps in domestic steel production, support fabrication shops, and boost the country's industrial competitiveness across Southeast Asia, according to the BOI. The steel industry remains a cornerstone of Philippine industrialization, supporting sectors such as infrastructure, automotive, shipbuilding, electronics, and packaging, the investment promotion agency said. —AOL, GMA Integrated News
Time of India
14-07-2025
- Business
- Time of India
Tata Group Chairman performs ground breaking of 1.25 bn pound green steel project in UK
Tata Group Chairman N Chandrasekaran on Monday held the ground-breaking ceremony at Port Talbot in the UK to kickstart the construction of a GBP 1.25 billion green steel project to cut down carbon emissions by 90 per cent at the site. The company is transitioning from the blast furnace route to the low-emission electric arc furnace process, which will utilise the locally available scrap. " Tata Steel UK today celebrates a historic milestone in its green transformation journey as Natarajan Chandrasekaran, Chairman of Tata Group, joins government ministers at a groundbreaking event for the company's state-of-the-art Electric Arc Furnace (EAF) facility in Port Talbot," the steel player said in a statement. Chandrasekaran was joined by Tata Steel CEO and Managing Director T V Narendran and Tata Steel UK CEO Rajesh Nair, for ground breaking which marks the official start of construction for the UK's largest low-carbon steelmaking facility. This is part of a GBP 1.25 billion transformation to low CO2 steelmaking, supported by a GBP 500 million investment from the UK Government. The joint investment by Tata Steel and the UK Government in green steelmaking at Port Talbot is the biggest in a generation and will secure 5,000 jobs across Tata Steel UK. Live Events The new EAF is set to be commissioned at the end of 2027 and is expected to reduce Port Talbot's carbon emissions by approximately 90 per cent, equivalent to 5 million tonnes of CO₂ per year, and 50 million tonnes over the next ten years. Chandrasekaran said: "This is an important day for Tata Group, Tata Steel and for the UK. Today's groundbreaking marks not just the beginning of a new Electric Arc Furnace, but a new era for sustainable manufacturing in Britain. At Port Talbot, we are building the foundations of a cleaner, greener future, supporting jobs, driving innovation, and demonstrating our commitment to responsible industry leadership." This project is also part of Tata Group's wider investment in the UK, across steel, automotive, and technology among others, which reflects our deep and enduring partnership with this country, said Chandrasekaran, who is also the chairman of Tata Steel. Business Secretary Jonathan Reynolds said: "This is our Industrial Strategy in action and is great news for Welsh steelmaking backing this crucial Welsh industry, which will give certainty to local communities and thousands of local jobs for years to come. "This government is committed to a bright future for our steel industry, which is why we provided GBP 500 million of funding to make this project possible. Our modern Industrial Strategy will set out how we'll back the sector even further to drive growth and create well-paid jobs across the country, as part of our Plan for Change." Secretary of State for Wales Jo Stevens said: "The UK Government acted decisively to ensure that steelmaking in Port Talbot will continue for generations to come, backing Tata Steel with GBP 500 million to secure its future in the town, along with GBP 80 million to support workers and the wider community. Our Steel Strategy will also deliver GBP 2.5 billion of investment to rebuild the UK industry, maintain jobs and drive growth. First Minister Eluned Morgan said: "This is a momentous day for heavy industry in Wales, as the electric arc furnace has secured the long-term future of steel making at Port Talbot. The start of the construction phase is good news for Port Talbot and neighbouring communities, and I'm especially pleased that Tata has committed to employing local contractors and local workers where it can." India-based Tata Steel owned the UK's largest steelworks of 3 million tonnes per annum (MTPA) at Port Talbot in South Wales and employed around 8,000 people across all its operations in that country. To take forward its transition plan, the company shut its upstream operations in a phased manner amid workers' protests and job cuts. At present, Tata Steel UK is using substrate from India and Netherlands operations to service existing customers in the UK. PTI
Business Standard
14-07-2025
- Business
- Business Standard
Tata Steel UK celebrates groundbreaking event of new EAF facility in Port Talbot
Tata Steel UK celebrated a historic milestone in its green transformation journey with the groundbreaking event for the company's state-of-the-art Electric Arc Furnace (EAF) facility in Port Talbot. The new EAFset to be commissioned at the end of 2027is expected to reduce Port Talbot's carbon emissions by approximately 90%, equivalent to 5 million tonnes of CO₂ per year, while securing high-quality sustainable steel production and supporting 5,000 UK jobs directly.
ITV News
14-07-2025
- Business
- ITV News
Work to begin on £1.25bn electric arc furnace in Port Talbot with first spades in the ground
Tata Steel will mark the start of its move towards greener steel production at Port Talbot' s steelworks on Monday. The steel giant is progressing with its construction of a £1.25bn electric arc furnace (EAF) in the town, which is set to be up and running by the end of 2027. Government ministers will join Tata bosses at a groundbreaking event at the Port Talbot site later today (Monday 14th July) to mark the beginning of the furnace's construction. Natarajan Chandrasekaran, chairman of Tata Steel and the Tata Group, described the moment as an 'important day for Tata Group, Tata Steel and for the UK'.He added: 'At Port Talbot, we are building the foundations of a cleaner, greener future, supporting jobs, driving innovation and demonstrating our commitment to responsible industry leadership.' The electric arc furnace (EAF) will be built on the site of the Port Talbot steelworks, in the area of the existing Basic Oxygen Steelmaking (BOS) plant. It is thought that it will be one of the largest furnaces of its kind in the world, melting mostly scrap steel to produce 3 million tonnes of steel per year. Tata insists the move will cut Port Talbot's emissions by 90%, while ensuring the future of steel production in the town. It comes after Tata Steel closed the plant's last blast furnace in September last year. The move put over 2,800 jobs at risk and brought traditional steel-making to an end in the town. Around 2,500 workers are thought to have left the business by March 2025, with many having already left by the end of last year.A further 300 roles are set to be affected in the next three years. The UK Government has backed plans for the EAF with a £500 million investment, saying that 5,000 UK jobs have been secured as a result of its of the groundbreaking event, Community Assistant General Secretary Alasdair McDiarmid said: "This bittersweet day is a consequence of the devastating closure of the blast furnaces, but importantly a future for Port Talbot steelmaking is being secured. "The workforce needs the Electric Arc Furnace project to be both a success and a turning point, and we look forward to playing our part to get the new furnace up and running." A new Public Health Wales survey highlighted that communities in Neath Port Talbot have been rallying round to support each other after the job losses at the steelworks. The survey found that 74% of households are expecting to experience some form of financial pressure in the next six months, specifically with energy bills (56%), food (44%) and housing (26%). Neath Port Talbot Council Leader Cllr Steve Hunt said the Tata Steel / Port Talbot Transition Board was established in response to the job losses, which has been providing £100 million of funding to support workers, businesses, and affected communities. He added: "On behalf of the Transition Board, Neath Port Talbot Council is delivering targeted support to people and businesses both within Neath Port Talbot and further afield. For example, the £19.8 million Employment and Skills Fund set up by the Transition Board to help affected individuals secure future employment."Ahead of the groundbreaking ceremony, Business Secretary Jonathan Reynolds said: 'This is our Industrial Strategy in action and is great news for Welsh steelmaking backing this crucial Welsh industry, which will give certainty to local communities and thousands of local jobs for years to come. Secretary of State for Wales Jo Stevens said that the start of the construction "realises the promise we made to the community, while the development of floating offshore wind, plans for a Celtic Freeport and millions more for local regeneration all mean that Port Talbot has a bright future.' First Minister Eluned Morgan said, 'Seeing spades in the ground today provides a tangible sign of Tata's intention to continue producing steel in the area, an industry which has provided quality jobs to local people for generations. 'The start of the construction phase is good news for Port Talbot and neighbouring communities, and I'm especially pleased that Tata has committed to employing local contractors and local workers where it can.'Luke Fletcher MS, Plaid Cymru's Economy spokesperson and Member of the Senedd for South Wales West said the news is "welcome", but said" we cannot forget the opportunity that has been lost here to safeguard over 2000 primary steel making jobs for the future. 'Labour has promised a lot to the communities in and around Port Talbot, it's vital that those promises are realised now.'
News18
09-07-2025
- Business
- News18
Stocks To Watch: Tata Steel, Tata Motors, Union Bank, JSW Steel, Coal India, And Others
Last Updated: Stocks to watch: Shares of firms like Tata Steel, Tata Motors, Union Bank, JSW Steel, Coal India, and others will be in focus on Wednesday's trade Stocks to Watch on July 9: Indian stock markets continued to trade in a consolidation zone on Tuesday but managed to close marginally higher. In today's trade, several stocks are likely to remain in focus due to corporate announcements, operational updates, and Q1 results. Coal India Coal India's subsidiary, Bharat Coking Coal Ltd (BCCL), announced the revival of its long-discontinued PB mining project. The move aims to boost domestic production of coking coal, a critical raw material for steel manufacturing. Tata Steel Tata Steel revealed plans to begin construction this month on its low-carbon Electric Arc Furnace (EAF)-based steelmaking facility in the UK. The project involves an investment of approximately £1.5 billion. Indian Hotels Company Ltd (IHCL) IHCL has signed a new greenfield project in Jaipur, Rajasthan. The 160-key hotel will operate under the Vivanta brand, strengthening the company's presence in the state. Shares of AMCs saw an uptick after SEBI proposed allowing them and their subsidiaries to offer a wider range of fund management services. Puravankara JSW Steel JSW Steel posted a 14% YoY rise in crude steel production in Q1 FY26, reaching 7.26 million tonnes — indicating strong operational performance. Tata Motors Tata Motors reported a 9% year-on-year decline in global wholesales for the first quarter of FY26. Total deliveries fell to 2.99 lakh units, reflecting pressure on sales volume. Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. view comments First Published: July 09, 2025, 07:55 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
