EAF PROJECT
Stocks in news: HDFC Bank, Suzlon Energy, Tata Steel, BEL, MCX
HDFC Bank Share: Markets closed the week positively, buoyed by favorable domestic factors. HDFC Bank will pursue legal action against allegations from the LKMM Trust. Suzlon Energy's promoters are expected to sell a significant number of shares, while Tata Steel anticipates commencing its low-carbon project in the UK by 2025.
Tata Steel aims to commission UK electric arc furnace project by 2027
Tata Steel is progressing with its low-carbon steel project in the UK. Construction at Port Talbot is expected to begin in July 2025. Operations are slated to commence by 2027. The company received necessary approvals for the USD 1.5 billion project. The transition involves shutting down upstream operations and using imported substrate.
Tata Steel looks to begin construction of EAF project in UK in July
Tata Steel is set to begin construction of its low-carbon electric arc furnace (EAF) steelmaking project in Port Talbot, UK, in July 2025, with operations slated to commence by 2027. Supported by UK government funding, this initiative transitions Tata Steel from blast furnaces to a low-emission EAF process utilizing local scrap, while also focusing on significant cost rationalization.
Tata Steel advances green steelmaking plans through major crane project
Tata Steel UK is advancing its green steel production with a new contract awarded to JASO Industrial Cranes for its Port Talbot plant. JASO will supply seven high-capacity process cranes to support the Electric Arc Furnace facility, a key component of Tata Steel's £1.25 billion investment.
Tata Steel shares rally over 3% on Rs 15,000 cr capital expenditure plan
Tata Steel announced a capital expenditure plan of Rs 15,000 crore for FY26, with 80% allocated to Indian operations. The investment will support projects in Kalinganagar, Ludhiana, and Port Talbot, UK. In Q4FY25, Tata Steel posted a 113% YoY rise in net profit to Rs 1,301 crore. The stock has gained over 12% in the past month.
Tata Steel plans capex of Rs 15,000 cr in FY26, majority for Indian projects, say officials
Tata Steel has allocated Rs 15,000 crore for capital expenditure across its India, UK, and Netherlands operations in FY26, with 80% dedicated to ongoing Indian projects. The company is expanding capacity in India, transitioning to electric arc furnaces in the UK, and focusing on decarbonization and efficiency improvements in the Netherlands.
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India-Sweden pact: Transforming steel & cement for a greener future
India and Sweden have partnered to decarbonize India's heavy industries, focusing on steel and cement. The partnership aims to promote green steel production through hydrogen-based processes, increased scrap utilization, and renewable energy. This collaboration seeks to position India as a leader in sustainable industrial growth while contributing to global climate goals.
Tata Steel UK signs contract for electric furnace in green steelmaking drive
Tata Steel has partnered with Italy's Tenova to install a state-of-the-art electric arc furnace at its Port Talbot site in Wales, aimed at reducing carbon emissions by 90% annually by 2027. This follows a £1.25 billion investment agreement with the UK government, enabling significant decarbonisation and economic growth in South Wales.
Tata Steel secures £500 mn for Port Talbot's green makeover
Tata Steel has secured £500 million from the UK government to build a low-carbon electric arc furnace in Port Talbot, expected to be operational in three years. The project will cost £1.25 billion and aims to cut emissions by 90%, but will result in around 2,800 job losses out of 8,000 employees.
Tata Steel signs £500 mn Grant Funding Agreement with UK Govt for Port Talbot project
Tata Steel has signed a £500 million Grant Funding Agreement with the UK Government to support its £1.25 billion green steel project at Port Talbot in Wales. This investment will see the installation of an Electric Arc Furnace and save 5,000 jobs, marking a significant boost for the British steel industry.
UK Govt open to investing more if Tata Steel builds assets: CEO TV Narendran
Tata Steel UK's CEO, TV Narendran, revealed that the British government is willing to provide further funding if Tata Steel opens additional product lines to mitigate job losses. The company and government had previously agreed on a £1.25 billion investment to transition to an electric arc furnace, with the government contributing £500 million. The transition could make about 2,800 jobs redundant. Tata Steel is exploring additional investments in downstream operations, such as a steel galvanizing line or a scrap processing unit, which could be supported by the government to preserve jobs.
UK Labour government likely to go tough on Tata Steel Wales job losses
The new UK Labour government is pressuring Tata Steel to safeguard local jobs at its Port Talbot plant before approving a $635 million lifeline for a low-carbon facility. The transition to an electric arc furnace may result in job cuts and financial challenges for the company.
Working on investment to support workers who would lose jobs at UK unit: Tata's N Chandrasekaran
Tata Steel is collaborating with the UK government and unions to invest in skill development for workers affected by the modernisation of its Port Talbot plant. The company is transitioning to a low-emission electric arc furnace (EAF) process, resulting in job losses of around 2,500 people. The EAF project aims to reduce CO2 emissions by 5 million tonnes per annum, ensure continuity of steelmaking in Port Talbot, and preserve most jobs.
Essar awaits final approvals to start work on $4.5 billion steel plant in Saudi Arabia
The oil-rich kingdom is eyeing becoming an electric vehicle manufacturing hub, manufacturing more than 3 lakh cars annually by 2030. Essar is looking to tap into the demand for steel for such cars as well as for other consumer goods industry.
India's steel demand to touch 190 MT-mark in 2030; production to reach 210 MT: SteelMint
In 2030, India's steel demand is projected to reach 190 MT based on a 7 per cent Compound Annual Growth Rate (CAGR). "In the best case scenario, it can also reach 230 MT by 2030," the report titled 'India's Steel and Coking Coal Demand 2030' stated.
Tata Steel Q2 Results: Firm reports a whopping Rs 6,196-crore loss; revenue drops 7% YoY
The exceptional loss includes an impairment charge of Rs 2,631 crore, which is related to Tata Steel UK, a step-down subsidiary. In addition, the company has also undertaken a charge towards restructuring and other provisions of Rs 3,612 crore.
Tata Steel plan for port Talbot to lead to huge savings: Koushik Chatterjee
"We have reconfigured the project to be more capital efficient so that we retain parts of assets that can be upgraded, and capex can be made smaller. The grant also became higher. So, we have bridged the gap to make it more viable. There is support in the form of policies as well. For example, the carbon border adjustment mechanism was not on the table initially. But in our conversations and on the government's own initiative, the government has moved on the consultation in March 2023, and has started the ball rolling," Chatterjee said.
Centre to support setting up of pilot projects using Green Hydrogen for steel making
The centre will aid research and development (R&D) projects to set up pilot plants for production and utilisation of green hydrogen in the iron and steel making processes. A Steel Ministry order said that Rs 455 crore has been earmarked for the steel sector under the National Green Hydrogen Mission. This amount will be support the domestic steel industry’s endeavours to find scalable uses of Hydrogen, which is produced using environmentally sustainable practises. This low environment footprint Hydrogen is called Green to signify its superior acceptability.
IFC partially exits Puravankara’s Bengaluru project
The exit — from 1.4 million square feet plotted development project spread over 60 acres — was at an internal rate of return of 20%. The project is at an advanced stage of completion with 80% of the houses sold out. IFC had invested Rs 157 crore in the project over the last two years.
Tata Steel plans low CO2 steel-making technologies in UK, Netherlands
Both, Tata Steel UK and Tata Steel Netherlands have been developing detailed plans for transition to low CO2 technologies in line with the company's goal to produce CO2-neutral steel by 2050 in Europe, company's CEO & MD T V Narendran and Executive Director & CFO Koushik Chatterjee said.
India-Southeast Asia will worsen emission profile on rising crude steel production
India has set a target of producing 300 million tonnes by 2030-31 when domestic consumption is expected to be more than 200 million tonnes. Indian mills produced 118 million tonnes of crude steel in 2021.
World Bank arm IFC holds nearly 5% stake in Federal Bank with Rs 916 crore capital infusion
Increased financing for climate-friendly projects as well as more financing for small businesses to help accelerate India's economic recovery from COVID-19 are expected in the wake of a USD 126 million (Rs 916 crore) equity investment in the bank, IFC and Federal Bank said in a joint release on Thursday.
IFC to invest $76 million in Puravankara’s affordable housing platform
The alliance will build around 4,000 housing units in the next five to seven years, with other projects to be identified by 2021, the company said in a release.
In times of equity turmoil, analysts projecting this stock to rally 100%
The scrip has already surged 1,000 per cent in five years – mainly in last 18 months.
1,200% rally in 3 years! Seven smallcaps that entered the Rs 10,000 crore m-cap club
The market capitalisation of these stocks has climbed above the Rs 10,000 crore mark.
Global steel demand turnaround to give HEG a growth spark
At present, 30% of steel globally is manufactured using electric arc furnace (EAF) method and the rest in basic oxygen furnace (BOF).
SAIL, Kobe to sign final pact for Rs 1,500 cr plant next week
SAIL will sign the final pact with Japan's Kobe Steel next week for a JV which will set up a facility to produce iron nuggets at an investment of Rs 1,500 cr.
SAIL-Kobe enters into JV to produce iron nuggets
Steel Authority of India has formed a joint venture with Japan's Kobe Steel for producing 500,000 tonne iron nuggets in a year at Durgapur plant in West Bengal.
Tata Steel hunts for more buyout targets
Even after the Corus acquisition, Tata Steel is ready with Plan B. It may now chase other acquisition targets around the globe.
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