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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

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

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

Tata Steel has announced the completion of the sale of its European long steel business, including the giant Scunthorpe plant, to Greybull Capital LLP. 
 As per the deal, <keyword id="3387727" type="UNKNOWN" weightage="100" keywordseo="Scunthorpe-steelworks">Scunthorpe steelworks</keyword> in England, mills in Teesside and in northern France, employing a total of 4,800 people, have been sold, for a "nominal" fee, said the announcement. 
 "<keyword id="723143" type="ORGANIZATION" weightage="100" keywordseo="Tata-Steel-UK">Tata Steel UK</keyword> today announced the completion of the sale of its Long Products Europe business to Greybull Capital LLP," the statement said. 
 
"From today the Long Products Europe business, which in the UK includes the Scunthorpe steelworks, two mills in Teesside, an engineering workshop in Workington, a design consultancy in York, and associated distribution facilities, as well as a rail mill in northern France, will trade under the name of British Steel. All together the business employs 4,800 people - 4,400 in the UK and 400 in France," it added. 
 
Tata Steel UK had announced its plans to sell all its UK operations after years of losses in March this year, also saying that it was talking to Greybull, the London-based private equity firm, since December 2015. 
 
Bimlendra Jha, Executive Chairman of the Long Products Europe business and CEO of Tata Steel UK, said: "As a responsible seller, Tata Steel is delighted to have secured a buyer for this business and we hope that under Greybull ownership, the business will continue the momentum of the improvement programme that has been initiated in the last 12 months." 
 
He applauded the efforts of its employees and trade unions, who worked closely with the Long Products Europe management team so that the business' prospects can be improved and it can be placed in a more competitive position than it was in for many years. 
 
"It is through their dedication and hard work that we are in this position today in spite of continued challenges in the market," he added. 
 
<a href="http://i4.mirror.co.uk/incoming/article7703447.ece/ALTERNATES/s615/Tata-Steel.jpg">Image source</a>

Tata Steel UK sells its Europe Long Products business to Greybull

<a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Steel&amp;sortorder=effectivedate">Tata Steel</a> has sold its Long Products business in Europe to investment firm <a href="http://www.businessinsider.in/searchresult.cms?query=+Greybull+Capital&amp;sortorder=effectivedate">Greybull Capital</a>. India’s biggest steel manufacturer is not exiting the UK after struggling for over a decade. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=+Greybull+Capital&amp;sortorder=effectivedate">Greybull Capital</a> will take over the whole business, including assets and liabilities, and secure a <keyword id="6357455" type="EVENT" weightage="60" keywordseo="Funding">funding</keyword> package of 400 million pounds. The deal financing, provided principally by a combination of banks and <keyword id="3005006" type="UNKNOWN" weightage="80" keywordseo="Greybull-Capital">Greybull Capital</keyword> shareholders, will be available to fund working capital and future <keyword id="6362476" type="ORGANIZATION" weightage="60" keywordseo="investments">investments</keyword> in the Long Products Business. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=+Greybull+Capital&amp;sortorder=effectivedate">Greybull Capital</a> says the deal will be completed within eight weeks, and is subject to financing arrangements and cost agreements. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Tata+Steel&amp;sortorder=effectivedate">Tata Steel</a> is $4 billion in debt on its UK balance sheet. Last year the company wrote off Rs. 5000 crores related to the long products business. 
 
Image credit: Indiatimes

Tata Steel sells off Long Products business in Europe

New Delhi, India has registered a 4.1 per cent growth in its crude <keyword id="113521" type="General" weightage="20" keywordseo="steel-production" source="Orion">steel production</keyword> at 11.2 MT amid 5.1 per cent downfall in the global output at 161.6 MT in May 2023, according to the World <keyword id="34570" type="General" weightage="20" keywordseo="steel" source="Orion">Steel</keyword> Association (worldsteel). Despite a 7.3 per year-on-year (y-o-y) fall, China remained the top steel producing country in May with 90.1 MT crude steel production, worldsteel data showed. India produced 11.2 MT crude steel, up 4.1 per cent over May 2022, the body said in its latest report. Japan's output was also 5.2 per cent down y-o-y at 7.6 MT. The United States produced 6.9 MT steel registering a 2.3 per cent fall annually. Russia is estimated to have produced 6.8 MT, up 8.8 per cent. South Korea registered a marginal fall of 0.1 per cent to 5.8 MT. While Germany produced 3.2 MT, Brazil 2.8 MT, Turkiye 2.9 MT and Iran produced 3.3 MT in May 2023. Brussels-based World Steel Association is one of the largest industry associations in the world, with members in every major steel-producing country. It represents steel producers, national and regional steel industry associations, and steel research institutes. Members represent around 85 per cent of <keyword id="279841" type="General" weightage="20" keywordseo="global-steel" source="Orion">global steel</keyword> production.

Global steel production falls 5.1% in and India's output rises 4.1% in May 2023

New Delhi, Apr 22 () Tata Steel Ltd (TSL) on Wednesday said its consolidated sales fell by over 11 per cent to 7 million tonne (MT) during March quarter 2020 as compared to the year-ago period, hit by the outbreak of COVID-19 pandemic. The consolidated production during the quarter increased by over 1.5 per cent to 7.84 MT from 7.72 MT in January-March 2019, TSL said in a statement. In the just concluded quarter, TSL's India sales were at 4.03 MT, down from 4.72 MT in the year-ago period, while the output increased to 4.74 MT from 4.48 MT. The company's sales in Europe fell to 2.37 MT from 2.57 MT in the year-ago period, while production also fell to 2.56 MT from 2.73 MT. Tata Steel South East Asia registered almost flat sales at 0.60 MT compared to 0.59 MT in January-March 2019, while the output was at 0.54 MT, marginally up from 0.51 MT in the same quarter a year ago. "As per notifications from central and state governments, steel and mining, being essential services and continuous process industries, are exempt from the lockdown measures subject to certain guidelines. However, the lockdown has led to logistic issues and lower demand driven by the shutdown of customer operations in automotive, construction and other segments since last few days of March 2020. "While this affected 4QFY20 sales volumes in India, production volume grew. . Tata Steel India also achieved an 8 per cent y-o-y production growth for full year FY20, along with the best ever annual sales," the company said in a statement. This was supported by ramp up of Tata Steel BSL and acquisition of Usha Martin Steel business by Tata Steel Long product. Tata Steel BSL also recorded its best ever annual performance, it said. In Europe also, the company said, it is cooperating with national guidelines of the relevant countries to combat COVID-19. Despite macro headwinds, the company said it was able to keep production and sales stable in fourth quarter. Overall European steel demand has declined compared to the normal conditions as many customers, including European car manufacturers, have currently paused production. "The utilization levels are currently around 70 per cent and dispatches are continuing in both the UK and the Netherlands," the company said. ABI ANUANU

Tata Steel sales fall 11 pc to 7 MT in Jan-Mar 2020; output up at 7.84 MT

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Fabian BimmerA steel-worker is pictured at a furnace at the plant of German steel company Salzgitter AG in Salzgitter, Lower Saxony on March 21, 2012.</div></div></div>Tata Steel has agreed to sell its struggling <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> business to family office Greybull Capital for a "nominal sum."The deal covers 4,800 jobs and assets including "Scunthorpe steelworks, two mills in Teesside, an engineering workshop in Workington, a design consultancy in York, and associated distribution facilities, as well as a mill in northern France," <a href="http://www.tatasteeleurope.com/en/news/news/tata-steel-uk-agrees-sale-and-purchase-agreement-for-long-products-europe-business">according to the release on the deal.</a>Indian company Tata has been in talks with potential buyers of its UK business <a href="http://uk.businessinsider.com/tata-steel-puts-its-entire-uk-business-up-for-sale-2016-3">since putting its business here up for sale at the end of last month.</a>There was concern that the sale process could result in the closing down of some or all of the operations, with Tata saying that the business case for making steel in Britain has "rapidly deteriorated" due to falling prices and rising costs.However, in today's release the company says that "the agreement is an important milestone on the road towards continuing steelmaking in Scunthorpe and steel processing in other locations in the UK and France."Bimlendra Jha, Executive Chairman of the stand-alone Long Products Europe business (the division being sold), says in the statement:Today marks a significant milestone in the sale of the Long Products Europe business. This sale is the best possible outcome for employees who have worked relentlessly to ensure the business's survival, and helped to make it attractive to a potential buyer.After the deal completes Tata Steel UK will be rebranded "British Steel", a name it was known by prior to its takeover by Tata. Greybull will invest £400 million in the new company, <a href="https://next.ft.com/content/b1ff7118-635e-323b-a4f6-b61be8b1fd93">according to the Financial Times</a>.The FT reports that the group has also reached an agreement with trade unions and key suppliers to "reset the cost base of the business."Paul McBean, the chairman of the Scunthorpe works multi-union committee, <a href="http://www.scunthorpetelegraph.co.uk/8203-s-unbelievable-news-8211-Greybull-Capital/story-29089086-detail/story.html">told the Scunthorpe Telegraph</a> that the deal is "unbelievable news", saying: "We have saved the local steel industry, thousands of jobs, the town and the community as a whole." Hans Fischer, Chief Executive of Tata Steel's European operations, says:Under these current challenging market conditions in Europe with the soaring levels of imports from China, we are happy that Tata Steel UK and Greybull Capital have entered the final stage of completion of the sale of shareholding in Longs Steel UK. This transaction will offer a future for the Long Products Europe business and its 4,400 employees in the UK. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/hamilton-makes-over-2-million-month-producer-jeffrey-seller-broadway-musical-theater-2016-4">Broadway's biggest hit 'Hamilton' is making over $2 million a month - here's why the producer thinks it could be making a lot more</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="hqaGdtMjE6TuOLd1QuJ1UzvqOkB9_J_a" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

STEEL SAVED: Tata sells plants to Greybull Capital

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Fabian BimmerA steel-worker is pictured at a furnace at the plant of German steel company Salzgitter AG in Salzgitter, Lower Saxony on March 21, 2012.</div></div></div>Tata Steel just completed the sale of part of its struggling <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> business to family office Greybull Capital for a "nominal sum."The deal for Tata's so-called "Long Products Business" covers 4,800 jobs and assets including "Scunthorpe steelworks, two mills in Teesside, an engineering workshop in Workington, a design consultancy in York, and associated distribution facilities, as well as a mill in northern France," <a href="http://www.tatasteeleurope.com/en/news/news/tata-steel-uk-agrees-sale-and-purchase-agreement-for-long-products-europe-business">according to the initial release on the deal.</a><a href="https://next.ft.com/content/5eaa3e44-27b0-11e6-8b18-91555f2f4fde#axzz4AD5oBN6t">The Financial Times reported that the deal completed on Wednesday.</a> The paper says the deal saves 4,400 jobs in the UK.Indian company Tata has been in talks with potential buyers of its UK business <a href="http://uk.businessinsider.com/tata-steel-puts-its-entire-uk-business-up-for-sale-2016-3">since putting its business here up for sale at the end of March.</a>While this deal brings certainty to many employees, there are still many factories and jobs in limbo. Tata is still in talks with multiple parties about buying the rest of its UK steel business, most notably the Port Talbot operation in Wales.Business Secretary Sajid Javid is also involved in the discussions and it trying to lessen Tata Steel's pension deficit, <a href="http://uk.businessinsider.com/uk-steep-plants-being-bought-and-jobs-saved-2016-4">which is putting off buyers</a>. The company <a href="http://uk.businessinsider.com/uk-government-looking-to-ringfence-tata-steels-15-billion-pension-plan-2016-5">has a £485 million ($702 million) shortfall in its scheme</a> and workers face having their future payouts reduced as Javid <a href="http://uk.businessinsider.com/government-considers-moving-tata-steel-pension-plan-form-cpi-to-rpi-2016-5">considers moving the pensions from being pegged to the consumer price index (CPI) measure of inflation to the lower retail price index (RPI)</a>. This would require a change in the law.The assets Greybull bought off Tata Steel UK will be rebranded "British Steel," a name it was known by prior to its takeover by Tata. Greybull will invest £400 million in the new company, <a href="https://next.ft.com/content/b1ff7118-635e-323b-a4f6-b61be8b1fd93">according to the Financial Times</a>.Hans Fischer, Chief Executive of Tata Steel's European operations, said at the time the deal was first announced:Under these current challenging market conditions in Europe with the soaring levels of imports from China, we are happy that Tata Steel UK and Greybull Capital have entered the final stage of completion of the sale of shareholding in Longs Steel UK. This transaction will offer a future for the Long Products Europe business and its 4,400 employees in the UK. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/red-flags-goldman-sachs-interviews-2016-5">This behavior could kill your chances in a Goldman Sachs interview</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="wxbjFnMzE6KLizh2hBTQSDvLOgNQGzpH" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

4,800 jobs were just saved by a deal for part of Tata Steel

As per reports, <keyword id="6357147" type="CITY" weightage="100" keywordseo="Tata-Steel">Tata Steel</keyword> has confirmed the sale of its Scunthorpe-based steel plant to investment firm <keyword id="3005006" type="UNKNOWN" weightage="100" keywordseo="Greybull-Capital">Greybull Capital</keyword>. The deal involves an investment package of 400 million pounds, the reports added. 
 
It was in December last year that Tata Steel had signed a memorandum of Intent with Greybull Capital so that it could enter exclusive negotiations for the potential sale of its long products Europe business. Prior to this, it had signed a memorandum of understanding with the Klesch Group, which couldn’t be sustained. 
 
Along with the steel plant, the deal also includes mills in Teesside and northern France, an engineering workshop in Workington, a design consultancy in York, and associated distribution facilities. 
 
Talking of the investment firm Greybull Capital, it is "a family office which makes long-term investments in private companies" based in London, and is run by financiers Marc and Nathaniel Meyohas and Richard Perlhagen. 
 
Ever since Tata Steel announced in March this year that it would have to sell its UK steel business because of poor performance, the events have unfolded rather rapidly. The reasons behind the downfall are said to be poor demand and cheap Chinese imports. 
 
<a href="http://www.newsforindia.com/wp-content/uploads/2015/10/scunthorpe-Tata-Steel.jpg">Image source</a>

Tata Steel has sold its UK plant to London-based Greybull Capital

By Aditi Khanna London, May 2 () Tata Steel has announced plans to help shape regional efforts in South Wales to decrease carbon emissions, aimed at creating the world's first net-zero industrial cluster. As a leading member of the South Wales Industrial Cluster (SWIC), the Indian steel major said on Friday that its plan could see Tata's integrated steelworks at Port Talbot in the region playing a major role as one of four possible anchor sites. The first phase of SWIC's Roadmap and Deployment project received a significant boost thanks to grant funding of GBP 295,000 from UK Research and Innovation -- a partnership of universities, research organisations, businesses, charities, and government -- with more funding available for future stages. "SWIC presents a key opportunity to support Wales' net zero ambitions by uniting the various decarbonisation programmes in South Wales into a single roadmap for the first time," said Chris Williams, Manager Energy Research at Tata Steel in Europe. "By helping to develop an industrial strategy, which allows companies in Wales to grow while also reducing CO2 emissions, the plan will create new jobs and provide a sustainable industrial base for future generations," he said. The announcement is one of a number of initiatives to help Tata Steel's European business achieve its ambition of becoming carbon neutral by 2050. Phase one of the project will create a plan for a series of local zero-carbon areas to lower emissions, create skilled jobs and enhance well-being across South Wales. If SWIC projects proceed successfully, they will improve the UK's ability to locally manufacture steel products with low carbon emissions, helping to drive the low-carbon future of UK construction and other sectors such as defence, car manufacturing, packaging and even coin production. The SWIC initiatives will also make a vital contribution to the economic resilience of the Welsh economy by bringing in new high-skilled jobs and ensuring operations are sustainable in the long term, Tata Steel said. Key areas for SWIC in the first phase of the project include examining the infrastructure required for the development of the hydrogen economy, for large scale CO2 capture, utilisation and storage (CCUS) and transport. Other partners in SWIC include Costain, CR Plus, RWE, Progressive Energy, University of South Wales, Celsa Manufacturing, Tarmac, Valero Energy, Progressive Energy, Capital Law, Flexible Process Consultants the Port of Milford Haven and Vale Europe. Tata Steel is one of Europe's leading steel producers, with steelmaking in the Netherlands and the UK, and manufacturing plants across Europe. The company supplies high-quality steel products across a wide range of sectors, including construction and infrastructure, automotive, packaging and engineering. It is currently said to be in talks with the UK government for support through the coronavirus pandemic lockdown. AK INDIND

Tata Steel says edging towards carbon neutral goal in UK

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">ReutersAn employee works at the Changning steel and iron factory in Changzhi, Shanxi province.</div></div></div>Tata Steel, Europe's second largest steel producer, said it plans to sell all its British assets, putting thousands of jobs at risk.The business case for making steel in Britain has "rapidly deteriorated" due to falling prices and rising costs, t<a href="http://www.tatasteeleurope.com/">he Mumbai-based company said in a statement.</a>"These factors are likely to continue into the future and have significantly impacted the long term competitive position of the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> operations," the company said.The company said it would "explore all options for portfolio restructuring including the potential divestment of Tata Steel UK, in whole or in parts."The move caused an outcry from Community, the steelworkers' union, which demanded a meeting with Prime Minister David Cameron to discuss Tata's move.Community general secretary Roy Rickhuss said: "The UK is now on the verge of a national crisis. Tata Steel withdrawing completely from the UK risks destroying our entire steel industry. That would be a disaster both for those communities reliant on steel jobs and our entire industrial base."Worst affected is Port Talbot in Wales, one of the UK's biggest steel plants. Politician Leanne Wood, leader of Welsh party Plaid Cymru, called the news "devastating."According to Bloomberg, Tata Steel <a href="http://www.bloomberg.com/news/articles/2016-02-04/tata-steel-swings-to-quarterly-loss-as-imports-hurt-margins" title="Tata Steel Swings to Quarterly Loss as Imports Hurt Margins (2)" data-tracker-action="click" data-tracker-category="recirc" data-tracker-label="inline_link.02">reported</a> a fiscal third-quarter loss of 21.3 billion rupees ($320 million) in February, versus a profit of 1.57 billion rupees a year earlier. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/2-in-1-shampoo-conditioner-combination-science-2016-3">Why 2-in-1 shampoo and conditioner products don't work </a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="91YjV0MTE6Q-UUNd4hePsmmU5pUlzcwC" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Tata Steel is putting its entire UK business up for sale

New Delhi, Jan 10 () Tata Steel on Friday said that its production volume in India registered a marginal 1.8 per cent increase to 4.46 million tonnes (provisional) in the third quarter of the ongoing fiscal.
 Its production volume was at 4.38 MT (actual) in the year-ago period, the steel major said in a filing to BSE.
 Tata Steel India's sales volume in the third quarter of the ongoing fiscal increased by 17 per cent quarter-on-quarter (QoQ) with improved market sentiment.
 Sales volume to auto segment was maintained during the quarter, it said.
 The branded product and retail segment grew 23 per cent QoQ, while industrial products and projects grew 12 per cent QoQ.
 "Tata Steel Europe's 3QFY20 production and sales volume was flattish on QoQ basis. Tata Steel South East Asia operations registered lower production volume QoQ due to continued sluggishness in Singapore and Thailand markets," it said.
 The Indian economy, it said, remained weak with declining private consumption growth and low investment growth.
 Domestic steel prices reached a nadir in October 2019 before improving from November onwards.
 Steel prices are expected to improve with strong retail demand and ongoing restocking demand at the dealers' ends, it said.
 Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum. SID ANS
ANS

Tata Steel production volume in Q3 marginally up at 4.46 MT

New Delhi, Nov 25 () Moody's Investors Service on Monday said that the cost rationalisation of Tata Steel's European operations is credit positive as it will support a turnaround in the private steel major's wholly-owned arm TSUKH's less profitable operations.
 On November 18, Tata Steel outlined a programme to reduce costs and improve product mix at its European operations, which are held by wholly-owned subsidiary Tata Steel UK Holdings (TSUKH), Moody's Investors Service said in a statement.
 "The planned cost rationalisation program is credit positive for both companies because it will support a turnaround in TSUKH's less profitable operations that have dragged on Tata Steel's consolidated credit quality," the statement said.
 The European operations accounted for 35 per cent of Tata Steel's total shipments in the first half of FY20, but they generated only around 2.4 per cent of its reported consolidated earnings before interest, tax, depreciation and amortisation (EBITDA).
 Although the programme is credit positive and a continuation of the company's efforts to turnaround the European operations, a timely and meaningful improvement in performance is key, the credit rating agency said.
 Sustained weakness in demand from Europe's steel-consuming sectors, global economic slowdown and increasing trade barriers cast downside risks to the pace of credit profile improvement.
 Tata Steel's Indian operations are the cornerstone of the company's strong profitability because these operations are integrated into the production of key raw materials in steel making, which combats the country's slowing steel demand and declining end-product prices.
 Sluggish economic growth with weak demand from automobile, manufacturing, property and construction industries have diminished steel demand in India and caused a decline in end-product prices in the first half. SID ANS
ANS

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