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The <keyword id="6354868" type="General" weightage="20" keywordseo="uk" source="Orion">UK</keyword> <keyword id="26362" type="General" weightage="20" keywordseo="government" source="Orion">government</keyword> has offered a counter-package to <keyword id="6357147" type="DOMAIN" weightage="20" keywordseo="tata-steel" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="tata steel" meta.entityname="Tata Steel Ltd." meta.entityid="12902" meta.seoname="tata-steel-ltd">Tata Steel</keyword> against its proposal seeking a financial package to execute its decarbonisation plans for its plant in Port Talbot, its global CEO and MD TV Narendran has said. However, there is a big gap between what <keyword id="8555" type="General" weightage="100" keywordseo="tata" source="Orion">Tata</keyword> <keyword id="34570" type="General" weightage="20" keywordseo="steel" source="Orion">Steel</keyword> had asked for and what the British government has offered, he said without sharing any details of the government's offer. Tata Steel owns the UK's largest steelworks at Port Talbot in South Wales and employs around 8,000 people across all its operations in the country. The company had sought 1.5 billion pounds from the UK government to execute its decarbonisation plans. When asked if the Rishi Sunak-government in the UK has responded to Tata Steel's proposal seeking financial support, the CEO replied in affirmative. Tata Steel UK had submitted a proposal to transition into a new process route, which will be greener and more sustainable. The UK government has come back with a counter-proposal, which is less than what the company had asked for, Narendran told PTI in a video conference. Tata Steel will now have to re-work on its decarbonisation plans for the UK business. It will rethink the facilities that can be set up and those which can't be taken forward, he said. "We need to re-look at the configuration because our proposal we felt was the most optimal proposal from the long-term sustainability of the site but obviously the UK government will also be limited by how much support they can give because the UK itself is in a difficult position economically. So, we have seen what they have offered. Let us now work and see if there is something which can be worth it," the company official said. When asked about the company's stance on exiting the UK business, which has been affecting the company's balance sheets, Narendran said Tata Steel can not see its future in the UK without the support of the government there. "What I have said last time is we believe that we can't create a future in the UK without some government support. Now that the government has come back with a proposal... let's see if based on their offer we do something which can work," he said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/video-games-dont-harm-cognitive-abilities-but-dont-benefit-either-says-us-based-study/articleshow/97730048.cms">Video games don't harm cognitive abilities but don't benefit either says US based study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/microsofts-chatgpt-powered-bing-browser-now-available-publicly/articleshow/97729788.cms">Microsoft's ChatGPT-powered Bing browser now available publicly</a>

UK govt offered us a counter-package for Port Talbot plant, says Tata Steel CEO

<keyword id="6357147" type="General" weightage="80" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> on Monday said it has started a trial injection of hydrogen gas in a blast furnace at its plant in <keyword id="6355573" type="General" weightage="100" keywordseo="jamshedpur" source="Orion">Jamshedpur</keyword>, <keyword id="6360371" type="General" weightage="20" keywordseo="jharkhand" source="Orion">Jharkhand</keyword>. The company has six blast furnaces at its plant in Jamshedpur. "Tata Steel has commenced the trial injection of hydrogen gas using 40 per cent of the injection systems in 'E' blast furnace at Jamshedpur. This is the first time in the world that such a large quantity of hydrogen gas is being continuously injected in a blast furnace," it said in a statement. The trial started on April 23 and is expected to continue for 4-5 days on a continuous basis. It will provide valuable insights into operating blast furnaces with greener fuel injectants, reducing fossil fuel consumption and subsequent CO2 emissions from the blast furnace, the statement said. Tata Steel said the trial has the potential to reduce the coke rate by 10 per cent, translating into around a 7-10 per cent reduction in CO2 emissions per tonne of crude steel produced. "The trial of hydrogen gas injection in a blast furnace at <keyword id="13854067" type="General" weightage="50" keywordseo="jamshedpur-works" source="Orion">Jamshedpur Works</keyword> is an important milestone in our journey towards net zero emissions. "We are confident that this trial will provide valuable insights into operating blast furnaces with hydrogen and help us identify the next steps towards achieving our goal of a leaner carbon future," <keyword id="169184" type="General" weightage="50" keywordseo="uttam-singh" source="Orion">Uttam Singh</keyword>, Vice President, Iron Making at Tata Steel, said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/rils-q4-performance-keeps-brokerages-bullish-on-the-companys-prospects/articleshow/99725935.cms">RIL’s Q4 performance keeps brokerages bullish on the company’s prospects</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/sc-closes-contempt-case-against-lalit-modi-with-a-warning/articleshow/99725774.cms">SC closes contempt case against Lalit Modi with a warning</a>

Tata Steel commences trial use of hydrogen gas in blast furnace at Jamshedpur plant

<keyword id="6357147" type="General" weightage="100" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> has partnered with <keyword id="87" type="General" weightage="50" keywordseo="germany" source="Orion">Germany</keyword>'s SMS group to explore development of low carbon steel making process. As part of the MoU, both companies shall undertake further technical discussions and initiate actions for conducting Joint Industrial Demonstration of the EASyMelt technology developed by SMS group, Tata Steel said in a statement. "The demonstration will be executed at <keyword id="17711230" type="General" weightage="50" keywordseo="e-blast-furnace" source="Orion">E Blast Furnace</keyword> in Tata Steel's Jamshedpur plant with an objective to reduce CO2 emission by more than 50 per cent from blast furnace's baseline operation," it said. The EASyMelt (electric-assisted syngas smelter) technology is an iron-making solution that can be implemented in existing integrated steel plants to accelerate decarbonisation. <keyword id="1441007" type="General" weightage="50" keywordseo="t-v-narendran" source="Orion">T V Narendran</keyword>, CEO &amp; MD, Tata Steel, said "We actively look for solutions to facilitate the transition to green steel production, and thus contribute to a sustainable future. Further, <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> being the second largest steel producer in the world also places a huge responsibility on large manufacturers like Tata Steel to lead the country's decarbonisation journey." Tata Steel intends to take this association ahead with a deeper collaboration to access better technologies and processes to reduce the carbon footprint in a meaningful and consistent way, he said. Tata Steel is prioritising decarbonisation and has set a goal of achieving net zero carbon emissions by 2045. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-bard-cool-things-you-can-do-with-the-ai-chatbot/articleshow/101012445.cms">Google Bard: Cool things you can do with the AI chatbot</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/ev-stocks-on-the-radar-these-five-rode-the-electric-vehicle-rally-in-the-last-year/slidelist/101011986.cms">EV stocks on the radar – These five rode the electric vehicle rally in the last year</a>

Tata Steel, Germany's SMS group to explore low carbon steel making technology

Ranchi, <keyword id="6357147" type="General" weightage="100" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> sees enough growth opportunities within its existing facilities to actualise an expansion plan to achieve 40 million tonne capacity in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> by 2030, almost double of its current capability in the country, CEO and Managing Director <keyword id="1441007" type="General" weightage="50" keywordseo="t-v-narendran" source="Orion">T V Narendran</keyword> said. The steel giant will continue to hold talks with the UK government over a financial package for operations there, he said. The company has planned capital expenditure to the tune of Rs 12,000 crore for India operations, he said. "In India, basically we want to increase the capacity. We have already around 21 MT. It will be 25 MT soon because the Kalinganagar expansion is going on. We have a few more plans - Neelachal, Kalinganagar and Meramandali or Angul to achieve 40 million tonne capacity by 2030," <keyword id="347545" type="General" weightage="80" keywordseo="narendran" source="Orion">Narendran</keyword> told PTI in an interview here. There are multiple ongoing projects at various locations in India and the company has "prioritised completion of the 5 MTPA Kalinganagar expansion", he said. The company is in the process of expanding its plant capacity in Odisha's Kalinganagar to 8 MT from 3 MT. "Within nine months of acquisition, we have successfully ramped up (the capacity of) Neelachal Ispat Nigam Ltd to one million tonne on annualised basis," he said. The steel company, through its wholly-owned subsidiary <keyword id="13070787" type="General" weightage="50" keywordseo="tata-steel-long-products-ltd" source="Orion">Tata Steel Long Products Ltd</keyword>, had completed the acquisition of Odisha-based one million tonne per annum steel mill NINL for a consideration of Rs 12,100 crore in July 2022. On capacity expansion, he said, "Basically the capex (capital expenditure) which you see is Rs 12,000 crore in India. It will be at that level for the next three years at least." In reply to a query, he categorically said that the entire growth plan is based on "organic" expansion, and there is no plan for any "inorganic" growth in the near future. "Within our facilities, we have enough opportunities. We don't need to acquire anything to achieve our growth aspiration," he said. Speaking on the steel major's UK operations, he said there was "status quo" but the company will continue to pursue talks. "On UK operations, there is no further development. We had conversations a couple of months back. They had given us an offer which is below or lower than what we had sought. After that, there is no further development. We will continue to have conversations with them," Narendran said. Tata Steel has sought a financial package of 1.5 billion pounds from the UK government to execute decarbonisation plans at its Port Talbot facility in South Wales under which it will install new plant machinery with low-emission technologies for replacing two blast furnaces, which are nearing the end of life in 12-24 months, and bringing down the carbon footprint. Asked about the future course on projects there, he said it would depend on the outcomes of the dialogue and the financial support from the UK government. The steel major owns a 5-MT facility at Port Talbot, which is the UK's largest steelworks employing around 8,000 people. "Our route and pace of decarbonisation across geographies will be calibrated for each location based on the local regulatory framework, government support and willingness of customers to pay for higher-cost green steel," he said. Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonne. The group recorded a consolidated turnover of USD 30.3 billion in the financial year ending March 31, 2023. <keyword id="4252143" type="General" weightage="50" keywordseo="tata-steel-limited" source="Orion">Tata Steel Limited</keyword>, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 65,000. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/govt-to-roll-out-lost-mobile-blocking-tracking-system-pan-india-on-may-17/articleshow/100224875.cms">Govt to roll out lost mobile blocking, tracking system pan-India on May 17</a> <a href="https://www.businessinsider.in/stock-market/markets/news/fpi-bought-equity-worth-rs-18617-crore-in-may/articleshow/100225129.cms">FPI bought equity worth ₹18,617 crore in May</a> <a href="https://www.businessinsider.in/business/telecom/news/pm-modi-wants-us-to-start-building-rd-around-6g-technology-cisco-coo/articleshow/100224961.cms">PM Modi wants us to start building R&amp;D around 6G technology: Cisco COO</a>

Enough growth opportunities within facilities to take capacity to 40 MT in India: Tata Steel CEO

Billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>'s Reliance Industries and <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="153" meta.entityid="Tata Group">Tata Group</keyword> have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list. TIME listed Reliance in the 'Titans' category (one of the five categories under which the companies were divided, other being Leaders, Disrupters, Innovators, and Pioneers). Tata was listed in 'Titan's' category while Serum under 'Pioneers'. "Reliance Industries was founded as a textile and polyester company 58 years ago by Dhirubhai Ambani. Today the sprawling conglomerate -- which has aligned its growth with Indian Prime Minister Narendra Modi's vision for a 'self-reliant' India -- is the country's most valuable company, with a market capitalisation of more than USD 200 billion," TIME said. Now led by Dhirubhai's son Mukesh, the Mumbai-based company has ventures in energy, retail, and telecommunications, among others, and has made its chairman Asia's richest man, it said. The publication went on to stated that in February, Reliance came out on top in a fiercely competitive race to dominate India's burgeoning streaming market by striking a USD 8.5 billion merger deal with Disney's India business. "The deal will bring together more than 100 television channels and give the combined group around a 31 per cent share of India's streaming market compared to rivals Netflix and Amazon Prime with 8 per cent each," according to analytics firm Comscore. Reliance has revolutionised several economic sectors in the world's most populous country by making world-class products and services available at affordable prices with multiple innovations. Under Mukesh Ambani, the firm's telecom arm Jio revolutionised India's digital landscape and drove digital inclusion on an unprecedented scale with the most affordable mobile data tariffs in the world. It set up the world's largest single location refining complex. Reliance Retail is ranked among the top 100 retailers globally and in FY24 it registered 1.06 billion footfalls across its 18,800+ stores (67 per cent of which are in small towns and villages). Reliance is investing USD 10 billion in building the most comprehensive ecosystem for new energy and new materials in India and has set an ambitious goal to reach net-zero carbon by 2035. TIME described Serum as the world's biggest vaccine maker, churning out billions of vaccines. The company makes 3.5 billion doses every year, including for measles, polio, and most recently, HPV. "Serum's CEO Adar Poonawalla says the company's success can largely be chalked up to its private ownership. Not being beholden to shareholders allows it to keep vaccine prices low (the R21 will cost USD 4 a shot)," the publication said. Tata Group, it said, was founded in 1868 and has a vast portfolio extending from steel, software, watches, subsea cables, and chemicals, to salt, grains, air-conditioners, fashion, and hotels. "But as rivals have aggressively courted new businesses, it struggled to keep up with stiff competition. In 2017, after over a century of family management, N Chandrasekaran took over as chairman despite having no personal ties to the family -- highly unusual when India's business landscape is ruled by family succession plans," TIME said. As chair, he has transformed the group by investing in tech manufacturing, AI, and semiconductor chips. In 2023, it became the first Indian company to assemble iPhones, and is building another plant, it said, adding that in September, Tata announced a partnership with Nvidia to develop an AI cloud in India. "And this year, it announced plans for the country's first major semiconductor manufacturing facility. The moves seem to be paying off: in February, Tata's combined market capitalisation reached a whopping USD 365 billion, more than the entire economy of India's neighbour and rival, Pakistan," it added. This is the fourth edition of annual TIME100 Most Influential Companies list, highlighting companies making an extraordinary impact around the world. To assemble the list, TIME solicited nominations across sectors, and polled its global network of contributors and correspondents, as well as outside experts. Then, TIME editors evaluated each on key factors, including impact, innovation, ambition, and success. The result is a diverse group of 100 businesses helping chart an essential path forward. 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Reliance, Tata on TIME's list of world's most influential companies

<keyword id="6357147" type="General" weightage="20" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> on Tuesday announced the commissioning of a carbon capture unit at its plant in Jamshedpur. The unit can capture five tonnes of carbon per day, the company said. The company did not disclose the financial details of the project. "Tata Steel today (Tuesday) commissioned a five tonnes per day (TPD) carbon capture plant at its Jamshedpur Works, making it the country's first steel company to adopt such a carbon capture technology that extracts carbon dioxide (CO2) directly from the blast furnace gas," Tata Steel said in a statement. Tata Steel will reuse the captured CO2 on site to promote the circular carbon economy, it said. Explaining the process, the company said the carbon capture and utilisation (CCU) facility uses amine-based technology and makes the captured carbon available for onsite reuse. The depleted CO2 gas is sent back to the gas network with increased calorific value. The CCU plant was inaugurated by Tata Steel CEO and MD T V Narendran. Narendran said, "The operational experience gathered from the plant will give us the required data and confidence to establish larger carbon capture plants in future." He added that as the next step, the company aims to establish scaled up facilities of CO2 capture integrated with utilisation avenues. SEE ALSO <a href="https://www.businessinsider.in/business/news/zomato-co-founder-gaurav-gupta-exits-from-zomato/articleshow/86193568.cms" data-type="tilCustomLink">The sequence of events leading up to the exit of Gaurav Gupta from Zomato</a> <a href="https://www.businessinsider.in/business/startups/news/lenskart-vision-fund-will-invest-20-million-in-eye-technology-startups/articleshow/86188885.cms">Lenskart is setting aside $20 million for technologies like instant glasses, spectacles for the colourblind and other breakthrough ideas</a> <a href="https://www.businessinsider.in/education/news/an-indian-software-icon-says-dont-push-kids-need-not-learn-coding-early/articleshow/86190611.cms">An Indian software icon says kids need not learn coding early</a>

Tata Steel commissions first ever plant in Jamshedpur to capture carbon dioxide

A proposal in this regard was approved by the Board of the company on Thursday, it said. "The Board of Directors of <keyword id="6357147" type="General" weightage="100" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> considered and approved schemes for the proposed amalgamation of six subsidiaries into and with Tata Steel," the statement issued by Tata Steel said. The subsidiaries are <keyword id="13075126" type="General" weightage="50" keywordseo="tata-steel-long-products-limited" source="Orion">Tata Steel Long Products Limited</keyword> in which Tata Steel holds 74.91 per cent equity, The <keyword id="607748" type="General" weightage="50" keywordseo="tinplate-company-of-india-limited" source="Orion">Tinplate Company of India Limited</keyword> (74.96 per cent), <keyword id="727358" type="General" weightage="50" keywordseo="tata-metaliks-limited" source="Orion">Tata Metaliks Limited</keyword> (60.03 per cent), The Indian Steel &amp; Wire Products Limited (95.01 per cent equity holding), Tata Steel Mining Limited and S &amp; T Mining Company Limited (both wholly-owned subsidiaries). "<keyword id="1062175" type="General" weightage="50" keywordseo="tata-steel-board" source="Orion">Tata Steel Board</keyword> approves the amalgamation of strategic businesses into the company," the statement said. The Board also approved the amalgamation of <keyword id="342421" type="General" weightage="50" keywordseo="trf-limited" source="Orion">TRF Limited</keyword> (34.11 per cent equity), an associate company of Tata Steel, into <keyword id="4252143" type="General" weightage="50" keywordseo="tata-steel-limited" source="Orion">Tata Steel Limited</keyword>. Tata Steel further said the proposed amalgamation is aimed at driving synergies, simplifying the group holding and management structure, and consolidating and strategically growing downstream operations and engineering capabilities. The Board has considered the proposal based on independent fairness and valuation opinions. It followed the process laid down under the Companies Act, 2013 and Securities and Exchange Board of India Regulations. The proposed amalgamation will enhance management efficiency, drive sharper strategic focus and improve agility across businesses based on the strong parental support from the Tata Steel leadership. "On completion, there will be further opportunities towards reduction of overhead and corporate costs. Each of the proposed amalgamations will be value-accretive for shareholders," the company said. TheBoards of all the amalgamating companies have also considered the proposals following due process and have unanimously approved the merger. The proposed amalgamation is also part of Tata Steel's continuing journey to simplify the group holding structure, the company said. According to the statement, since 2019, Tata Steel has reduced 116 associated entities (72 subsidiaries have ceased to exist, 20 associates and JVs have been eliminated and 24 companies are currently under liquidation). SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/reliance-new-energy-picks-up-20-stake-in-caelux-to-shore-up-its-position-in-advanced-solar-tech/articleshow/94388449.cms">Reliance New Energy picks up 20% stake in Caelux to shore up its position in advanced solar tech</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/pepsico-to-set-up-4-plants-in-up/articleshow/94388168.cms">PepsiCo to set up 4 plants in UP</a>

Tata Steel board approves merger of six subsidiary companies

The <keyword id="20161017" type="General" weightage="20" keywordseo="Vedanta-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Vedanta Group" meta.hostid="153" meta.entityid="Vedanta Group">Vedanta Group</keyword> is aiming to invest USD 20 billion across all its businesses in India over the next four years, its Chairman <keyword id="19919725" type="General" weightage="20" keywordseo="Anil-Agarwal" source="keywords">Anil Agarwal</keyword> said on Wednesday. The group will sell the steel business only at the right price, and is committed to continue running it if it does not get the right price, Agarwal told PTI on the sidelines of a company event. "At the moment, we have a plan to invest USD 20 billion across sectors in four years time," Agarwal said. The investments will be focused on technology, electronics, and glass businesses apart from the other activities that the group is engaged in, he said. Semi-conductors and glass -- used in making smartphones and laptops screens -- are very essential from a future perspective, he said, adding that the group is present in both the businesses already. It has land in Gujarat for a <keyword id="19920003" type="General" weightage="20" keywordseo="semiconductor" source="keywords">semiconductor</keyword> plant and is scouting for a credible and strong partner, he said. On the glass front, it is already into manufacturing in other countries but not in India, Agarwal said, hinting that the plan would involve undertaking some capacity building locally. Meanwhile, when asked about the steel business sale, which was supposed to be sold by March, Agarwal said a transaction depends on getting the right price. "We are committed... if we get the right price to divest it," he said, adding that if the group doesn't get the right price, it will choose to continue running the business by itself. He said the steel business is profitable and has really committed people who can ensure that it continues going ahead. Amid concerns around the debt position of the company, Agarwal said the overall debt of the company stands at only USD 12 billion at present and seemed to suggest that the same is manageable. He said the group has never defaulted on any of its debt repayment commitments, and that each of the businesses will require heavy investments if it were to be started from scratch. The London-based billionaire said he "is in very critical areas" and added that every developed economy has made it big by focusing on minerals under the ground. He rued that there are concerns on the environmental impact of mining in India. Foreign investors are very keen to take bets on India, he said, hoping for "simplification and encouragement for entrepreneurs after the elections". The billionaire from Bihar said he wants to play the role of a catalyst in helping his home state grow, but "there is a need for strong support from the policy front for it". <keyword id="19919721" type="General" weightage="20" keywordseo="Vedanta" source="keywords">Vedanta</keyword> wants to take the total number of Nand Ghars -- under which it takes care of children's nutritional requirements in villages -- to 25,000 over the next two years from the present 6,000, Agarwal, who was speaking on the sidelines of an event to announce scaling up of the group's philanthropic activities, said. The ultimate plan is to increase the number of beneficiaries to over 7 crore children and 2 crore women, he said. Agarwal said the group may also look at investing in the entertainment business going forward but did not offer any timeline or investment details. All successful corporates in the world have interests in education, healthcare, sports and entertainment, he said, conceding that he "does not understand entertainment a lot". More than profits, entertainment has to be looked at a means to instil the right cultural values, he added. 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Vedanta plans to invest $20 bn in India in 4 years; will sell steel biz only at right price: Agarwal

Facing reduction in demand due to the lockdown in the country, steel makers <keyword id="6357529" type="COMPANY" weightage="20" keywordseo="sail">SAIL</keyword> and Tata Steel have reduced their output by about 50%, according to sources. State-owned <keyword id="64877" type="COMPANY" weightage="20" keywordseo="Steel-Authority-of-India-Ltd">Steel Authority of India Ltd</keyword> (SAIL) and private player Tata Steel both contribute about 20 per cent to India's total steel <keyword id="22637" type="COMPANY" weightage="20" keywordseo="production">production</keyword>. As per industry sources, SAIL and Tata Steel have scaled down production by about 50%. The companies have taken the decision because of the reduced demand in the market after the lockdown, which has impacted logistics movement, the sources said adding that buyers are also reluctant in placing orders. Most of the staff of the companies are working from home and only important sites like blast furnaces and coke oven batteries etc at the plants, which can not be closed, are running. Tata Steel had earlier said as the outbreak of COVID-19 has impacted its business and operations, the company's integrated steel facilities in Jamshedpur and Kalinganagar and subsidiaries <keyword id="6924221" type="COMPANY" weightage="20" keywordseo="Tata-Steel-BSL">Tata Steel BSL</keyword> and <keyword id="3318681" type="COMPANY" weightage="20" keywordseo="Tata-Steel-long-products">Tata Steel Long Products</keyword> have started reducing production levels while operations in the downstream facilities have been suspended and put on care and maintenance mode. The company had however not provided any figures with respect to reduced production levels. While a SAIL official confirmed reducing output by about 50 per cent over phone, an e-mail query sent to Tata Steel remained unanswered. SAIL has five integrated steel plants in Odisha, Jharkhand and Chhattisgarh. Tata Steel has two plants in Odisha and Jharkhand.

Production at SAIL, Tata Steel plants down by 50%, amid lockdown

<ul class="summary-list"><li><keyword id="11892747" type="UNKNOWN" weightage="60" keywordseo="india" source="Orion">India</keyword>'s top steelmaker said it would stop importing Russian coal. </li><li><keyword id="11942049" type="UNKNOWN" weightage="60" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> cited "uncertainties" over <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s supply given the repercussions of Western <keyword id="12754126" type="UNKNOWN" weightage="60" keywordseo="sanctions" source="Orion">sanctions</keyword>. </li></ul>India's top steelmaker said it would stop importing Russian coal due to "uncertainties" created by Western sanctions, <a href="https://www.ft.com/content/25fde8d4-bbf0-4d08-8c7b-94b5f854d865">the Financial Times first reported.</a>Tata Steel was India's biggest importer of Russian coal in the first quarter, bringing in 617,000 tonnes, according to data from CoalMint cited by the FT. But Tata placed those orders before Russia invaded <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>."To ensure business continuity, we have sourced alternative supplies of raw materials as transactions with Russian suppliers and bankers at present come with a lot of uncertainties as a result of international sanctions imposed on Russia," a spokesperson for Tata Steel told the FT. The company's decision to halt Russian coal imports comes despite India's willingness to buy Russian oil, which New Delhi has <a href="https://www.theguardian.com/world/2022/mar/31/india-defends-buying-discounted-russian-oil-despite-appeal-by-truss">vehemently defended</a> while other governments have banned it or are heading that way.But analysts have noted that sanctions on Moscow have made making payments for its commodities trickier. Russia has demanded that buyers for their products pay in rubles to side step the dollar and other currencies.And while India and Russia have flirted with local currency payments for business transactions, concrete plans have yet to come to fruition. Meanwhile India has an insatiable need for coal. In addition to relying heavily on coal for making steel, the country uses coal for 70% of its power grid and is currently experiencing an unusually strong heatwave that has shuttered 20 coal plants in the country.

India's top steelmaker will stop importing Russian coal due to 'uncertainties' created by Western sanctions on Moscow

<ul><li> Production at the new gigafactory is due to start in 2026.</li><li><keyword id="6354362" type="General" weightage="50" keywordseo="jaguar-land-rover" source="Orion">Jaguar Land Rover</keyword> will be the anchor customer of the new gigafactory.</li><li>The new gigafactory with an initial output of 40GWh will be one of the largest in Europe.</li></ul> The UK government on Wednesday announced that the <keyword id="6355725" type="General" weightage="80" keywordseo="tata-group" source="Orion">Tata Group</keyword> is to invest over 4 billion pounds in setting up a new electric vehicle (EV) battery plant, or gigafactory, in Britain which will create thousands of jobs across the supply chain. British Prime Minister <keyword id="221875" type="General" weightage="70" keywordseo="rishi-sunak" source="Orion">Rishi Sunak</keyword> hailed it as an "incredibly proud" moment for the country's automotive industry and described it as a testament to the strength of the UK car manufacturing industry and its skilled workers. <keyword id="42747" type="General" weightage="60" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> owns UK-based luxury carmaker Jaguar Land Rover (JLR), which will be the anchor customer of the new gigafactory with an initial output of 40GWh - making it one of the largest in Europe. Production at the new gigafactory is due to start in 2026 and is pitched as a key driver behind Sunak's priority to grow the UK economy. "Tata Group's multi-billion-pound investment in a new battery factory in the UK is a testament to the strength of our car manufacturing industry and its skilled workers," said Sunak. "With the global transition to zero-emission vehicles well underway, this will help grow our economy by driving forward our lead in battery technology whilst creating as many as 4,000 jobs, and thousands more in the supply chain," he said. "We can be incredibly proud that Britain has been chosen as home to Tata Group's first gigafactory outside India, securing our place as one of the most attractive places to build electric vehicles," the British prime minister said. As one of the largest-ever investments in the UK auto industry, the new factory will create up to 4,000 highly skilled jobs as well as thousands of further jobs in the wider supply chain for battery materials and critical raw minerals. The gigafactory will secure UK-produced batteries for JLR as well as other manufacturers in the UK and Europe. The location of the new gigafactory is expected to be in Somerset, south west England. "Our multi-billion-pound investment will bring state-of-the-art technology to the country, helping to power the automotive sector's transition to electric mobility, anchored by our own business, JLR," said N Chandrasekaran, Chairman of parent company Tata Sons. "With this strategic investment, the Tata Group further strengthens its commitment to the UK, alongside our many companies operating here across technology, consumer, hospitality, steel, chemicals, and automotive," Chandrasekaran said. The Department for Business and Trade (DBT) said details of the government's incentives and support provided to the Tata Group as part of the agreement will be published in due course as part of regular transparency data. However, reports in the lead-up to the announcement had indicated subsidies in the form of grants, energy subsidies and other training and research funding would be part of the agreed package. "Today's multibillion-pound investment demonstrates that this government has got the right plan when it comes to the automotive sector," noted UK Business and Trade Secretary Kemi Badenoch. "We are backing the UK car industry to help grow our economy as we transition to electric vehicles, and this latest investment will secure thousands of highly-skilled jobs across the country," Badenoch said. The investment of over 4 billion pounds is seen as a historic moment for the UK's growing electric vehicles (EV) industry, with JLR's suite of <keyword id="91410" type="General" weightage="50" keywordseo="range-rover" source="Orion">Range Rover</keyword>, Defender, Discovery and Jaguar brands as the key customers. The Tata investment is described as crucial to boosting the UK's battery manufacturing capacity needed to support the electric vehicle industry in the long term and the new plant will cover almost half of the battery production that the Faraday Institution estimates the country will need by 2030. "This is a huge vote of confidence in the UK and one that will drive growth in our economy, creating thousands of jobs and powering our transition to electric cars," said UK Chancellor Jeremy Hunt. "Tata Group's gigafactory builds on the strength of our manufacturing industry and shows we're on the right track, backing the sectors that will underpin our future prosperity for decades to come," he said. DBT said the government is committed to making the UK one of the best places in the world for automotive investment, as evidenced by the Automotive Transformation Fund (ATF), the British Industry Supercharger supporting industry energy needs, and the strong programme of support for research and development. "This new gigafactory puts us firmly in the fast lane to becoming the capital of Europe's electric car market, and makes crystal clear how they see the UK as the place to be for their future growth," added UK Energy Security Secretary Grant Shapps. "With thousands of jobs on-site and in the supply chain, this new factory will be the cornerstone of our automotive industry, backing manufacturers to develop and expand, and customers to make the switch from petrol and diesel," he said.

Rishi Sunak hails Tata Group's multi-billion EV investment in UK

<ul><li>Indian multinational <keyword id="6357147" type="DOMAIN" weightage="20" keywordseo="tata-steel">Tata Steel</keyword> is planning a massive restructuring to boost profits. </li><li>The steel conglomerate is laying off as many as 3,000 jobs across Europe — and almost two-thirds of them will be office jobs, BBC reports. </li><li><keyword id="112901" type="COMPANY" weightage="20" keywordseo="Tata-Steel-Europe">Tata Steel Europe</keyword> operations recorded a 90% drop in pre-tax profits for the financial year 2019-20. </li></ul>Indian multinational Tata Steel is planning a massive restructuring to boost profits amidst economic slowdown. The steel conglomerate is laying off as many as 3,000 jobs across Europe — and almost two-thirds of them will be office jobs, BBC <a href="https://www.bbc.com/news/business-50467071">reports</a>. However, no plants will be closed, the company said. This will primarily affect jobs across its offices in the Netherlands and Wales. “While the scale of the job cuts has not been confirmed, the axe would fall across the whole business at all its locations that collectively employ about 20,000 people, though there were no planned closures,” <a href="https://www.ft.com/content/91a74aa4-0933-11ea-b2d6-9bf4d1957a67">said</a> Chief Executive Henrik Adam. The move comes after the fluctuation in international markets with weak demand, higher costs and trade wars. Tata Steel Europe operations recorded a 90% drop in pre-tax profits for the financial year 2019-20. European steel producers witnessed a reduction in profits due to higher material costs and fall in prices. One reason is a global slowdown in auto sales. According to a Business Standard <a href="https://www.business-standard.com/article/companies/amid-slowdown-steel-companies-reduce-prices-for-automakers-by-14-119111801491_1.html">report</a>, steelmakers have lowered the contract prices by up to 14%. The impact has led to temporary shutdowns and lower output. The steel company has now set plans to close the next financial year at £750m in pretax profits. Last week, Chinese steelmaker Jingye signed a deal to buy British Steel, which was sold by Tata three years ago.

Tata Steel looks to boost profits by cutting 3,000 jobs in Europe

<ul class="summary-list"><li>In an emergency hearing, judges expressed outrage that steel plants were allowed to remain open and use industrial <keyword id="6355647" type="UNKNOWN" weightage="60" keywordseo="Oxygen">oxygen</keyword>.</li><li>COVID patients in <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s hospitals are dying as oxygen supplies at COVID care facilities run low.</li><li>Indian steelmakers applied to continue operating even as local governments struggled to maintain a supply of oxygen to hospitals.</li></ul>Two judges at the Delhi High Court expressed outrage during an emergency hearing, calling it the "height of greed" for steel plants to be allowed to operate - even as COVID patients begin to die and hospitals remain oxygen-starved, operating on critically low supplies.<a href="https://www.tribuneindia.com/news/nation/hc-height-of-greed-no-oxygen-for-hospitals-steel-plants-running-242314">The India Tribune</a> reported that High Court judges Vipin Sanghi and Rekha Palli said they were "shocked and dismayed" that hospitals were running out of oxygen but steel plants continued to operate. Most steel-making plants in India require industrial oxygen to produce steel in a process called basic oxygen steel-making - where pure oxygen is blown into a molten pot of blast-furnace iron and scrap. The emergency hearing resulted in a legal directive for oxygen to be provided by "whatever means" to the Indian capital's hospitals, which are currently facing a serious oxygen scarcity. The judges were considering an emergency lawsuit filed by the Balaji Medical and Research Centre, which asked for all supplies of oxygen to be diverted to medical centers to ensure that lives can be saved. The High Court issued a strongly worded response, observing that it "seems human life is not important for the state." "You are not exploring all avenues to augment oxygen supply - beg, borrow or steal," said the court in its decision, warning of India's government officials of the "gravity" of the emergency that Delhi faces if oxygen supplies to hospitals run dry.<a href="https://economictimes.indiatimes.com/news/india/provide-oxygen-forthwith-to-hospitals-by-whatever-means-delhi-hc-to-centre/articleshow/82183829.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppstgn=cppst">The India Times</a> reported that the judges encouraged steel and petrochemical plants to halt operations and follow the example of multinational steel-making company Tata Steel in supplying much-needed oxygen supplies to hospitals. Local media outlet <a href="https://www.dnaindia.com/india/report-tata-steel-supplying-200-300-tons-oxygen-for-treatment-of-covid-19-patients-2887219">DNA India</a> reported on Tuesday that Tata Steel said it would supply 200 to 300 tons of medical oxygen every day to various state governments and hospitals. "Medical oxygen is critical to the treatment of COVID-19 patients. Responding to the national urgency, we're supplying 200 to 300 tons of liquid medical oxygen daily to various state governments &amp; hospitals. We are in this fight together and will surely win it," Tata said in a <a href="https://twitter.com/TataSteelLtd/status/1383689665312530438?s=20">tweet</a>.The country's largest steel-making company SAIL also <a href="http://www.businessworld.in/article/Tata-Steel-SAIL-AMNS-India-Supplying-Oxygen-For-Treatment-Of-COVID-19-Patients/19-04-2021-386937/">said it was supplying 33,300 tons of oxygen</a> for the treatment of COVID patients - but not all companies in the industry have fallen in line. In March, a coalition of the country's steelmakers <a href="https://www.argusmedia.com/en/news/2090253-indian-steelmakers-appeal-to-operate-during-lockdown">applied to the government to allow them to continue to run operations</a> despite India's nationwide lockdown, asking to be classified as essential services. In the meantime, India continues to struggle with its critically low oxygen supplies. <a href="https://www.insider.com/india-coronavirus-nashik-hopsital-oxygen-tank-leaks-coronavirus-patients-dead-2021-4">Over 20 COVID patients in the western Indian city of Nashik died on Wednesday</a> when oxygen in their ventilators ran out amid the nationwide shortage of the gas. The state's health minister, Rajesh Tope, said the oxygen supply at the hospital in question had run out because the tanker refilling it suffered a leak. Out of desperation, some families of COVID patients have also <a href="https://www.insider.com/india-covid-second-wave-oxygen-shortage-2021-4">started stealing oxygen cylinders from hospitals</a>. It was reported that oxygen cylinders had been taken from a storeroom at the Damoh district hospital in Madhya Pradesh.India <a href="https://www.businessinsider.com/india-coronavirus-cases-highest-single-day-rise-global-record-2021-4">reported 314,835 new coronavirus cases on Thursday</a> - the highest daily total of any country during the pandemic. This brings the number of COVID cases in the country to close to 16 million recorded cases.

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Production at SAIL, Tata Steel plants down by 50%, amid lockdown

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India's top steelmaker will stop importing Russian coal due to 'uncertainties' created by Western sanctions on Moscow

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