Tata Steel is targeting the completion of its decarbonisation efforts at its UK plant within the next three years, as stated by the company's CEO T V Narendran.
As a key element of its decarbonisation strategy, the company will be transitioning from the aging blast furnace (BF) process to a more environmentally friendly low-emission electric arc furnace (EAF) process.
“Consultation process with the unions is going. We also need a number of (other) permissions. Some of the infrastructure needs to be upgraded. There is a lot of work that needs to be done. It has already started. We are hoping that in the next three years we should complete the entire journey,” Narendran said.
Narendran's comments were made in response to a question regarding the timeline for the company's decarbonisation plan, which he had previously indicated would require financial support from the UK government.
In response to another query, Narendran mentioned that his company is currently in discussions with several European suppliers to procure new plant machinery. Tata Steel and the UK government recently reached an agreement on a joint investment plan of £1.25 billion to implement decarbonisation initiatives at the Port Talbot steelmaking facility in Britain.
Narendran further noted that out of the £1.25 billion investment, £500 million will be contributed by the UK government.