Tata Steel, Punjab Govt ink pact to set up steel scrap based electric arc furnace steel plant

29 Aug 2022 , 03:14 PM

On August 26, 2022, Tata Steel Limited signed a Memorandum of Understanding (MoU) with the Government of Punjab to establish a 0.75 MnTPA long products steel mill using a scrap-based electric arc furnace (EAF).

The Memorandum of Understanding was signed in the presence of Bhagwant Mann, Hon’ble Chief Minister of Punjab.

The greenfield project in Kadiana Khurd, Hitech Valley, Ludhiana in Punjab is part of Tata Steel’s aim to invest in a circular economy and transition to low-carbon steelmaking via steel recycling.

It is an important step toward the Company’s aim of reaching Net Zero carbon emissions by 2045.

The cutting-edge EAF-based steel factory would manufacture construction-grade steel rebar under the Company’s main retail brand ‘Tata Tiscon,’ allowing Tata Steel to expand its market position in the construction segment.

Tata Steel commissioned its first Steel Recycling Plant with a capacity of 0.5 MnTPA at Rohtak, Haryana, in August of last year. It is the country’s first cutting-edge scrap processing facility.

In pursuit of its net zero aim and leadership in sustainability, Tata Steel has implemented targeted interventions across the value chain and is committed to decreasing its carbon footprint in production and throughout the product’s life cycle.

At around 9.23 AM, Tata Steel Ltd was trading at Rs104.25 down by 2.93% from its previous closing of Rs107.40 on the BSE. 

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