Debt-laden Tata Steel, this country’s largest in the sector, has indicated to UK trade unions that until the pension scheme issue there gets sorted, the company will not include the UK operations for sale discussion with Germany-based ThyssenKrupp.
Barely three weeks after Tata Steel exported Tata Ferroshots (granulated pig iron) from its Kalinganagar plant in Odisha, the steel maker today flagged off its first consignment of hot rolled steel export rake to Nepal.
As if the setbacks witnessed by Tata Steel, mainly pertaining to its Europe business, were not enough already, in yet another blow, the UK government's plan to save the company's UK business with pension reforms is said to have shelved.
Tata Steel’s consolidated net loss widened about 10 times to Rs 3,183 crore in the quarter ended June (Q1), against a Rs 317-crore loss in the corresponding period last year, according to the new accounting standard Ind-AS.
A meeting with Tata Steel officials in Britain was adjourned on Wednesday after company officials failed to provide the reasoning for it considering a merger with Germany-based Thyssenkrupp AG, trade union sources told this newspaper.
In view of rising production costs, steel companies such as Essar Steel, JSW Steel, Tata Steel and the Steel Authority of India are planing to increase prices by Rs 2,500 a tonne from September 1.The price hike is expected to push the rate of hot-rolled
Odisha which is emerging as the steel manufacturing hub of the country, requires a total investment of Rs 1,200 crore towards infrastructure development to develop a full-fledged ecosystem for downstream steel industries.
Tata Steel has signed a Memorandum of Understanding (MoU) with Indian Institute of Technology, Madras (IITM) to set up a research centre in IIT Madras Research Park as part of its long term strategic roadmap in the area of advanced materials.
Britain said on Monday it could still take a stake in Tata Steel's largest assets, including the Port Talbot plant, or offer loans in order to find a buyer after the Indian steelmaker said it was pausing the sale.