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Time of India
2 days ago
- Business
- Time of India
Tata Steel to begin UK electric arc furnace project by July
Tata Steel will begin construction of its electric arc furnace (EAF)-based steel making facility at Port Talbot in July 2025, with operations expected to start by 2027. The development follows receipt of planning approvals and is part of the company's transition from traditional blast furnace-based production to a lower-emission process. PTI has reported that the company's $1.5 billion project is backed by £500 million in funding from the UK Government. Tata Steel CEO and MD T V Narendran, and ED and CFO Koushik Chatterjee confirmed the timeline in the company's FY2024-25 annual report. 'We are now transitioning to decarbonised and state-of-the-art EAF-based steelmaking by FY2027-28, supported by 500 million pounds in the UK Government funding ,' the company said. Shift in operations and cost structure Tata Steel has closed its upstream operations in the UK and is currently supplying customers using imported substrate from India, the Netherlands and other sources. 'We have exited from steelmaking through the end-of-life heavy end assets in Port Talbot, and moved to a downstream model using imported substrate from India, the Netherlands and other external sources,' a company official said. Tata Steel Chairman N Chandrasekaran said the company is progressing with its plan to shift to lower-emission steel production. 'The decommissioning of two blast furnaces at Port Talbot has cleared the way for the next-generation Electric Arc Furnace (EAF) project, supported by the UK government,' he said. The company is targeting a reduction in fixed costs from £762 million in FY25 to £540 million over the next year. These reductions will be achieved by optimising substrate costs, modernising IT systems, streamlining downstream operations, and cutting corporate overheads. The EAF, once operational, will have a production capacity of 3.2 million tonnes of steel annually and is expected to reduce more than 50 million tonnes of carbon dioxide emissions over the next decade.
Time of India
2 days ago
- Business
- Time of India
Tata Steel new plant: $1.5-billion electric arc furnace facility to come up at Port Talbot; UK government gives 500 million pounds
Tata Steel will be beginning the construction of its state-of-the-art electric arc furnace (EAF) facility at Port Talbot, Wales, in July 2025, with production expected to commence by 2027. The company confirmed in its FY24-25 annual report that all key approvals for the $1.5 billion project are now in place. Backed by 500 million pounds in funding from the UK government, the project marks a major step in Tata Steel's journey towards low-carbon steel production. Once operational, the EAF is projected to produce 3.2 million tonnes of low-emission steel annually and cut over 50 million tonnes of CO₂ emissions over the next decade. 'We are now transitioning to decarbonised and state-of-the-art EAF-based steelmaking by FY2027-28, supported by 500 million pounds in the UK Government funding,' Tata Steel CEO & MD T V Narendran and executive director & CFO Koushik Chatterjee said in the company's report. The decommissioning of two ageing blast furnaces at Port Talbot has already been completed, and the company has shifted to a downstream-focused model, using steel substrate sourced from its operations in India, the Netherlands, and other suppliers to serve its UK customers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Direct shopping From Adidas Franchise Store... Adidas Buy Now Undo 'We have exited from steelmaking through the end-of-life heavy end assets in Port Talbot, and moved to a downstream model using imported substrate from India, the Netherlands and other external sources,,' a senior official explained. Tata Steel is also eyeing major cost rationalisation, aiming to reduce fixed costs from 762 million pounds in FY25 to 540 million pounds in the following year. This will be achieved through optimisation of input costs, streamlining of downstream operations, and IT modernisation. Chairman N Chandrasekaran said the company is firmly on track with its green transition. ' The decommissioning of two blast furnaces at Port Talbot, has cleared the way for the next-generation Electric Arc Furnace (EAF) project, supported by the UK government,' he said. The EAF facility will also make use of locally available scrap metal, further reinforcing the company's move to a more sustainable and circular production model. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
2 days ago
- Business
- Time of India
Tata Steel aims to commission UK electric arc furnace project by 2027
Homegrown Tata Steel is expecting to start the construction of its low-carbon EAF-based steel making project in the UK from July 2025 and commence operations by 2027, top company officials said. The company has received necessary approvals for its USD 1.5 billion project at Port Talbot, Tata Steel CEO & MD T V Narendran, and ED & CFO Koushik Chatterjee said in the company's annual report for FY2024-25. "We are now transitioning to decarbonised and state-of-the-art EAF-based steelmaking by FY2027-28, supported by 500 million pounds in the UK Government funding," the management said. They said that planning approval has been received for the EAF ( electric arc furnace ) project at Port Talbot and the construction is expected to commence in July 2025. The company's upstream operations in the UK have been shut down and Tata Steel is using substrate from India and Netherlands operations to service existing customers in the UK. Live Events "We have exited from steelmaking through the end-of-life heavy end assets in Port Talbot, and moved to a downstream model using imported substrate from India, the Netherlands and other external sources," an official said. Speaking further on the UK plan, the officials said the structural transition is also accompanied by a significant focus on cost rationalisation as the company plans to bring down its fixed costs further from 762 million pounds in FY25 to 540 million pounds in the coming year. Tata Steel Chairman N Chandrasekaran "company is on track on its transition to low-emission steelmaking. The decommissioning of two blast furnaces at Port Talbot, has cleared the way for the next-generation Electric Arc Furnace (EAF) project, supported by the UK government". The reductions are based on optimising substrate costs, modernising IT infrastructure, rationalising downstream operations and eliminating corporate overheads. 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, which will utilise the locally available scrap. By 2027, the EAF is expected to be fully operational, with the capacity to produce 3.2 million tonnes of low-emission steel annually. The EAF-based steelmaking project is expected to reduce over 50 million tonnes of Co2 in the next decade.
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Business Standard
2 days ago
- Business
- Business Standard
Tata Steel to begin UK low-carbon project in July 2025, eyes 2027 launch
Homegrown Tata Steel is expecting to start the construction of its low-carbon EAF-based steel making project in the UK from July 2025 and commence operations by 2027, top company officials said. The company has received necessary approvals for its USD 1.5 billion project at Port Talbot, Tata Steel CEO & MD T V Narendran, and ED & CFO Koushik Chatterjee said in the company's annual report for FY2024-25. "We are now transitioning to decarbonised and state-of-the-art EAF-based steelmaking by FY2027-28, supported by 500 million pounds in the UK Government funding," the management said. They said that planning approval has been received for the EAF (electric arc furnace) project at Port Talbot and the construction is expected to commence in July 2025. The operations in the UK have been shut and the company is servicing its customers from its India and Netherlands operations. "We have exited from steelmaking through the end-of-life heavy end assets in Port Talbot, and moved to a downstream model using imported substrate from India, the Netherlands and other external sources," an official said. Speaking further on the UK plan, the officials said the structural transition is also accompanied by a significant focus on cost rationalisation as the company plans to bring down its fixed costs further from 762 million pounds in FY2024-25 to 540 million pounds in the coming year. The reductions are based on optimising substrate costs, modernising IT infrastructure, rationalising downstream operations and eliminating corporate overheads. 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, which will utilise the locally available scrap.
Time of India
2 days ago
- Business
- Time of India
Tata Steel looks to begin construction of EAF project in UK in July
Homegrown Tata Steel is expecting to start the construction of its low-carbon EAF-based steel making project in the UK from July 2025 and commence operations by 2027, top company officials said. The company has received necessary approvals for its USD 1.5 billion project at Port Talbot , Tata Steel CEO & MD T V Narendran, and ED & CFO Koushik Chatterjee said in the company's annual report for FY2024-25. "We are now transitioning to decarbonised and state-of-the-art EAF-based steelmaking by FY2027-28, supported by 500 million pounds in the UK Government funding ," the management said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Here's What it Costs To Replace All Windows in An Average House Smart Lifestyle Trends Learn More Undo They said that planning approval has been received for the EAF (electric arc furnace) project at Port Talbot and the construction is expected to commence in July 2025. The operations in the UK have been shut and the company is servicing its customers from its India and Netherlands operations. Live Events "We have exited from steelmaking through the end-of-life heavy end assets in Port Talbot, and moved to a downstream model using imported substrate from India, the Netherlands and other external sources," an official said. Speaking further on the UK plan, the officials said the structural transition is also accompanied by a significant focus on cost rationalisation as the company plans to bring down its fixed costs further from 762 million pounds in FY2024-25 to 540 million pounds in the coming year. The reductions are based on optimising substrate costs, modernising IT infrastructure, rationalising downstream operations and eliminating corporate overheads. 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, which will utilise the locally available scrap. PTI
