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Business Standard
5 hours ago
- Business
- Business Standard
Tata Steel plans to commission UK electric arc furnace unit by 2027
Tata Steel plans to begin construction of its low-carbon electric arc furnace (EAF) steelmaking facility in the UK in July 2025, with operations scheduled to begin in 2027, the company said in its financial year 2024–25 (FY25) annual report. 'Using recycled scrap, the new (Port Talbot plant) steelmaking facility will reduce the on-site carbon emissions by up to 90 per cent,' the company said in its annual report. The EAF is scheduled to become fully operational by 2027, with an annual production capacity of 3.2 million tonnes of low-emission steel. The EAF-based steelmaking project is projected to cut more than 50 million tonnes of carbon dioxide emissions over the next ten years. The company stated that the structural transition is being carried out alongside a major focus on cost rationalisation. The company aims to reduce its fixed costs from £762 million in FY25 to £540 million in the following year. Performance and investment 'The recently acquired entity Neelachal Ispat Nigam Limited delivered a strong performance with ₹1,000 crore in EBITDA and positive free cash flows,' N Chandrasekaran, chairman, Tata Steel, said. 'On a consolidated basis, in FY2024–25, Tata Steel's crude steel production reached 30.92 million tonnes, while deliveries grew to 30.96 million tonnes (an increase of 3.3 per cent and 5.3 per cent y-o-y, respectively), both marking new highs,' the chairman added. Climate goals Tata Steel targets a 10–15 per cent reduction in emission intensity by 2030, compared to levels in FY2024–25. Tata Steel is constructing a 0.75 MTPA scrap-based electric arc furnace in Ludhiana to address expected medium- to long-term demand for low-emission steel in India. The company is also evaluating technologies to decarbonise its value chain. In addition, it has launched India's first Carbon Bank to convert carbon dioxide into value-generating assets for customers. Tata Steel became the first Indian steel company to demonstrate end-to-end capabilities in developing hydrogen transportation pipes. 'In January 2025, the company successfully developed and tested API X65 Electric Resistance Welded (ERW) pipes, using steel manufactured at its Kalinganagar plant and processed at Khopoli,' the company said. API X65 Grade pipes transport 100 per cent pure gaseous hydrogen under high pressure. Tech The company has deployed more than 558 artificial intelligence (AI) models in key areas including process control, predictive and prescriptive maintenance, procurement analytics, boulder detection at mining sites, and integrated operational management during FY25. 'Supply chain solutions like Compass in India and Nexus in Europe help streamline operations by providing better visibility of material flow through the supply chain to the customers. The Integrated Remote Operations Centre (i-ROC) empowers remote supervision and plant operations management,' the company said.
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Business Standard
2 days ago
- Business
- Business Standard
Tata Steel bets big on India growth, says Chairman N Chandrasekaran
India remains the fastest-growing major economy, with growth supported by favourable demographics, ongoing structural reforms, low inflation, and targeted fiscal incentives, Chairman of Tata Steel N Chandrasekaran said in a letter to shareholders. 'A combination of rate cuts, higher capital expenditure, and tax benefits is expected to drive private investment and discretionary consumption,' he said, adding that India is poised to lead global steel consumption by 2026. Chandra said global steel output in FY2024-25 was stable at 1.83 billion tonnes, but despite this, margins remained under pressure due to supply chain volatility, although coking coal prices were lower. India's steel sector outperformed global peers, with crude steel output rising 4.7 per cent on a year-on-year basis and steel consumption surging 10.2 per cent year-on-year. The growth was driven by construction, urbanisation, and industrial activity, he said. In India, the company ran operations at near full capacity utilisation across sites, with highest-ever crude steel production of 21.7 million tonnes and deliveries of 20.9 million tonnes. The company commissioned India's largest blast furnace (5 MTPA) at Kalinganagar — part of the ₹27,000 crore Phase II expansion — while Neelachal Ispat Nigam Limited (NINL) delivered strong performance with ₹1,000 crore EBITDA and generated positive free cash flow, Chandrasekaran said. In Europe, Tata Steel is advancing a major transition to low-emission steelmaking. In the UK, two blast furnaces at Port Talbot have been decommissioned to make way for a next-generation electric arc furnace (EAF) backed by £500 million in UK government funding. Construction begins in July this year, with fixed costs targeted to decline from £762 million to £540 million in FY2025-26. In the Netherlands, the company ran at near-rated capacity while progressing on a decarbonisation roadmap. Tata Steel Nederland is finalising a joint Letter of Intent with the Dutch government to support a shift to DRI-EAF-based steelmaking, with one blast furnace and one coke oven to be retired by 2030. A €500 million cost transformation plan is also underway. Tata Steel CEO & MD T.V. Narendran and ED & CFO Koushik Chatterjee reaffirmed focus on capex, efficiency, and sustainability as levers for future growth. On the deleveraging front, the company reduced net debt by ₹6,200 crore in H2 FY2024-25 to ₹82,579 crore. 'The company will stay the course in FY2025-26 by improving cash flows through cost take-out initiatives and operational efficiencies to bring down our debt level further,' the officials said.
Time of India
23-05-2025
- Business
- Time of India
Majhi launches Rs 1.15L crore industrial projects in Jajpur
1 2 Bhubaneswar: In a major industrial push, chief minister Mohan Charan Majhi on Thursday launched 24 major industrial projects worth Rs 1.15 lakh crore at the Kalinganagar Industrial Complex in Jajpur district. Out of these, foundation was laid for projects worth Rs 66,000 crore while he inaugurated Rs 49,000-crore projects. This massive investment drive, the first of its scale since Majhi assumed office last year, includes both inaugurations of completed projects and foundation stone laying ceremonies for new ventures, signalling a robust phase of industrial growth in the state. The projects are expected to generate 36,000 jobs across various sectors. The flagship projects include Tata Steel Ltd's ₹47,599 crore integrated steel plant expansion and Neelachal Ispat Nigam Limited's ₹61,769 crore steel plant expansion, which alone will create 14,000 jobs. Speaking on the occasion, Majhi said Odisha is entering a "historic turning point" with the launch of these industrial projects. "We are not merely laying foundation stones; we are building the future," the CM said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo "In just 113 days, we've turned commitments into concrete progress. This is the result of our govt's willpower, dedication, and belief in action over words," he added. The CM emphasised that Kalinganagar has emerged as the "economic lifeline of a self-reliant Odisha". He credited Prime Minister Modi's vision, stating that Odisha is proving itself to be "not just a land of heritage, but a land of limitless opportunity and industrial excellence." The projects span various sectors, including steel, ferro alloys, chemicals, solar energy, and food processing. Several international companies are participating in this industrial push, including investments from Japan, Germany, the US, and the UK, further strengthening Odisha's position as a preferred investment destination. Several international companies are investing in the region. They include Linde India Limited (₹425 crore Air Separation Unit), TYK Ceramics (Japan) (₹57 crore refractory products facility), Almamet India Germany (₹50.6 crore specialty chemicals unit), Neo Industries USA (₹72 crore chrome plating facility), Corewire Surface Technology UK (₹50.1 crore steel roll manufacturing unit), and Lechler India Germany (₹1.5 crore precision nozzle facility). The rapid implementation of these projects, following the Utkarsh Odisha-Make in Odisha Conclave-2025, demonstrates the govt's commitment to expediting industrial growth through ease of doing business, world-class infrastructure, and transparent governance. Industries minister Sampad Chandra Swain and textiles, handlooms and handicrafts minister Pradeep Balsamant also spoke.
