Tata Steel today successfully commissioned India's largest blast furnace at Kalinganagar, Odisha. With a total investment of Rs 27,000 crore, the Phase II expansion at Kalinganagar will take the total capacity at the site from 3 million tonnes per annum (MTPA) to 8 MTPA. The new facility was inaugurated by T. V. Narendran, CEO and Managing Director, Tata Steel, in the presence of senior leaders of the Company. The new blast furnace will significantly boost the plant's overall production capabilities, allowing Tata Steel to meet the growing demands of various industries, including automotive, infrastructure, power, shipbuilding, and defence. It will also provide advantages in specific areas like oil & gas, lifting & excavation, and construction. With the Phase II expansion, Odisha has emerged as the largest investment destination in India for Tata Steel, with a total cumulated investment of over Rs 100,000 crore in the last 10 years. The new blast furnace, with a volume of 5,870 m3 , is equipped with state-of-the-art features for long campaign life and an eco-friendly design to optimise the steelmaking process. This blast furnace will utilise four top combustion stoves, a first in India, along with two preheating stoves for optimum specific fuel consumption in hot metal production. In a first for Tata Steel, a dry gas cleaning plant has been installed to maximise energy recovery from by-product gas. The world's largest Top Gas Recovery Turbine (TRT) of 35 MW power generation capacity will help with the recovery of an additional 10% of energy. An evaporative cooling system is being employed for the first time in an Indian blast furnace, optimising space footprint while lowering specific water and power consumption by approximately 20% compared to conventional designs. The blast furnace will also have a zero-process water discharge plan with rainwater harvesting. Powered by Capital Market - Live

Alongside its planned '750 million investment, Tata Steel has put its significant global engineering and project capabilities behind this project, which will benefit from an additional '500 million in UK Government Grant Funding. The Tata Group company has already launched public consultation on specific activities and is working closely with the authorities to apply for planning approvals by November 2024, with a view to commencing large scale site work around July 2025. The EAF is expected to be operational within three years. T V Narendran, chief executive officer and managing director, Tata Steel, said: 'With the UK government's critical support, this complex and ambitious transformation of Port Talbot has the potential to make the plant one of Europe's premier centres for green steelmaking. I would like to thank the UK Steel Committee and various departments of the UK and Welsh governments for their support in reaching this agreement. We now look forward to the efficient and speedy execution of the EAF project. We will also continue our work with the Transition Board and the UK and Welsh governments to enable this project to be a catalyst for economic regeneration and job creation in South Wales.' Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 35 million tons per annum. The steel major's consolidated net profit surged 51.37% to Rs 959.61 crore in Q1 FY25 as against Rs 633.95 crore reported in Q1 FY24. Total revenue from operations fell 7.93% year on year (YoY) to Rs 54,771.39 crore in the quarter ended 30 June 2024. The scrip added 2.43% to end at Rs 151.75 on the BSE. Powered by Capital Market - Live

Tata Steel announced that it has signed a '500 million Grant Funding Agreement with the UK Government allowing it to proceed at pace with the project to install a state-of-the-art Electric Arc Furnace at the Port Talbot steelworks in Wales. As the largest investment in the UK steel industry for decades, the '1.25 billion project will safeguard UK's steel sovereignty, secure steel making in Port Talbot and preserve 5,000 jobs. The new assets will reduce the UK's entire industrial carbon emissions by 8% (and Port Talbot's by 90%) while setting a benchmark in circularity, utilising UK scrap. Alongside its planned '750 million investment, Tata Steel has put its significant global engineering and project capabilities behind this project, which will benefit from an additional '500 million in UK Government Grant Funding. Basic engineering is now complete, and equipment orders will be placed shortly for the Electric Arc Furnace (EAF) and ladle metallurgy furnaces, a new coil box and crop shear for the hot strip mill, a cranes package, and for construction management and civil engineering. Tata Steel has already launched public consultation on specific activities and is working closely with the authorities to apply for planning approvals by November 2024, with a view to commencing large scale site work around July 2025. The EAF is expected to be operational within three years Despite the challenges inherent in the transformation, the company's workforce has demonstrated great commitment and resilience to wind down and close the Blast Furnace #5 operations and Morfa coke ovens smoothly and safely in recent months. Plans are progressing to close Blast Furnace #4 and the wider heavy-end operations at Port Talbot by the end of September, with supply chain arrangements in place to serve customers through the transition period until the EAF is commissioned. T V Narendran, Tata Steel Chief Executive Officer and Managing Director, said: 'With the UK government's critical support, this complex and ambitious transformation of Port Talbot has the potential to make the plant one of Europe's premier centres for green steelmaking. I would like to thank the UK Steel Committee and various departments of the UK and Welsh governments for their support in reaching this agreement. We now look forward to the efficient and speedy execution of the EAF project. We will also continue our work with the Transition Board and the UK and Welsh governments to enable this project to be a catalyst for economic regeneration and job creation in South Wales.'Powered by Capital Market - Live

Tata Steel Ltd gained 2.67% today to trade at Rs 152.1. The BSE Metal index is up 1.24% to quote at 31093.44. The index is up 1.03 % over last one month. Among the other constituents of the index, National Aluminium Company Ltd increased 2.42% and NMDC Ltd added 2.3% on the day. The BSE Metal index went up 34.26 % over last one year compared to the 21.44% surge in benchmark SENSEX. Tata Steel Ltd has added 2.15% over last one month compared to 1.03% gain in BSE Metal index and 3.77% rise in the SENSEX. On the BSE, 2.77 lakh shares were traded in the counter so far compared with average daily volumes of 26.81 lakh shares in the past one month. The stock hit a record high of Rs 184.6 on 18 Jun 2024. The stock hit a 52-week low of Rs 114.25 on 02 Nov 2023.Powered by Capital Market - Live

Tata Steel has today i.e. 28 August 2024, acquired 178,34,39,490 ordinary equity shares of face value USD 0.157 each aggregating to USD 280 million (Rs 2,347.81 crore) in T Steel Holdings (TSHP). Post this acquisition, TSHP will continue to be a wholly owned subsidiary of the Company.Powered by Capital Market - Live

Tata Steel has acquired 115,92,35,669 ordinary equity shares of face value USD 0.157 each aggregating to ~USD 182 million (Rs 1,528.24 crore) in T Steel Holdings (TSHP). Post this acquisition, TSHP will continue to be a wholly owned subsidiary of the Company.Powered by Capital Market - Live