Ratan Tata's company shows its power, will earn 5,480 crores in one go
Once again the power of Tata Group has been seen. Tata Steel has informed that the British government is going to invest in the Green Steel Project to be built in Port Talbot, Wales, United Kingdom. Tata Steel itself has given complete details of this deal in its regulatory filing.

Once again the power of Tata Group has been seen. Tata Steel has informed that the UK government is going to invest in the Green Steel Project to be built in Port Talbot, Wales, United Kingdom.
Tata Steel itself has given complete details of this deal in its regulatory filing. It is being told that the UK government is going to provide a fund of Rs 5,480 crore for this.
UK steel industry breaks record
Tata Steel has announced to start a green steel project at Port Talbot in Wales, United Kingdom at a cost of 1.25 billion pounds. A grant of 500 million pounds i.e. 5,480 crores has been received from the UK government for this project.
This is the largest investment ever made in the UK steel industry, which aims to make steel production environmentally friendly and reduce industrial carbon emissions by 8%.
5000 people will not lose their jobs
The project will save 5,000 jobs at Port Talbot, and will see the installation of an electric arc furnace on site. Tata Steel aims to have the plant operational by 2025, which will not only increase the UK's steel production capacity but also help drive regional economic regeneration and job creation.
On this project, Tata Steel CEO T V Narendran said that this plant can become one of the most prominent steel manufacturing centers in Europe. This partnership has been expected for a long time, and if the British government does not support it, Tata Steel could exit its UK business.
This is the target
Tata Steel has announced that it has started public consultation and is working closely with the authorities to obtain all approvals by December 2024. The company said that large-scale work will start at the site by July 2025 and the steel plant will be operational in the next three years.
Tata Steel CEO TV Narendran said that with the support of the British government, this plant at Port Talbot has the potential to become one of the major steel manufacturing centers in Europe.
He described the project as important for the economic regeneration of South Wales and employment generation. Tata Steel had been waiting for this support from the British government for a long time, and Tata Steel was considering exiting its steel business in the UK if it did not get the support of the government.