National News

Tata Steel to set up plant in Punjab

By: helloscholar news team

Date:

Tata Steel signed a Memorandum of Understanding (MoU) on August 26, 2022 with the Government of Punjab for setting up a 0.75 MnTPA long products steel plant with a scrap-based electric arc furnace (EAF). The MoU was signed in the presence of Shri Bhagwant Mann, Hon’ble Chief Minister of Punjab.

This initiative to set up the greenfield facility at Kadiana Khurd, Hitech Valley, Ludhiana in Punjab is part of Tata Steel’s commitment to investing in a circular economy and transitioning to low-carbon steelmaking through the steel recycling route. It is a step aligned to the Company’s goal of achieving Net Zero carbon emission by 2045.

The state-of-the art EAF-based steel plant would produce construction grade steel rebar under the Company’s flagship retail brand ‘Tata Tiscon’, which would enable Tata Steel to further augment its market presence in the construction segment.

Tata Steel

Tata Steel Limited is an Indian multinational steel-making company, based in Jamshedpur, Jharkhand and headquartered in Mumbai, Maharashtra. It is a part of the Tata Group.

  • Founded: 25 August 1907, Jamshedpur
  • Headquarters: Mumbai

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