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Tata Steel wins Rs 100 crore transfer pricing challenge
Fri, 24 Nov 2023 00:00:00 GMT
Tata Steel Ltd has won a Rs 100 crore transfer pricing claim against the revenue department, with the Income Tax Appellate Tribunal ruling in favor of the steelmaker. The tribunal also disallowed interest paid on perpetual non-convertible debentures and provisions for leave encashment, despite the assessing officer's

Tata Steel to scrap 800 jobs in the Netherlands
Mon, 13 Nov 2023 00:00:00 GMT
Tata Steel, the Indian-owned steelmaking giant, has revealed plans to eliminate 800 jobs at its plant in the Netherlands, located in IJmuiden near Amsterdam. The decision, announced on Monday, is aimed at enhancing market conditions and reducing costs for the under-pressure

British Steel plans to electrify UK steelmaking
Wed, 08 Nov 2023 00:00:00 GMT
British Steel has revealed a 1.2 billion plan to accelerate decarbonisation through the replacement of its blast furnaces in Scunthorpe and Teesside with two electric arc furnaces (EAF). The steelmaker stated that the project was subject to financial support from the UK government but suggested that the new EAFs could be operational by late 2025 in a statement issued this afternoon (November 6). Workers unions have criticised the plans, which follow Tata Steels proposal to swap blast

Britain in talks with Tata Steel over $629 million aid package
Sat, 02 Sep 2023 00:00:00 GMT
The British government is reportedly in discussions with Tata Steel to provide 500 million ($629 million) in funding for the Port Talbot steelworks. This funding would be alongside $881 million from Tata Steel's parent company in India and a commitment to build electric arc

Dutch group threatens lawsuit over Tata Steel pollution
Thu, 24 Aug 2023 00:00:00 GMT
A Dutch foundation representing over 1,400 people has begun the process of suing Tata Steel, claiming that the company is responsible for pollution near Amsterdam that has caused illnesses for residents. The foundation delivered a notice of liability to Tata Steel, stating that it wanted to reach an agreement about compensation. If Tata Steel does not respond within four weeks, the foundation will take legal

ISTA to meet UK govt on Tata Steel import concerns
Mon, 07 Aug 2023 00:00:00 GMT
UK steel trade body International Steel Trade Association (ISTA) will be meeting the government to discuss the issue of UK steelmaker Tata Steel importing significan't volumes of Indian HRC to supply its own production, filling up the countrys import quotas. ISTA had called for an immediate solution to make it possible for UK buyers to

Steel industry body calls on UK to act immediately on hot-rolled ...
Sat, 29 Jul 2023 00:00:00 GMT
Discontent is mounting among UK hot-rolled coil importers against UK steel producer Tata Steel as the steel mill is importing significan't volumes of Indian HRC to supply its own production, filling up UK import quotas. Market participants told S&P Global Commodity Insights July 27 that industry body International Steel Trade Association is preparing a letter to the UK government calling for a resolution of the issue. Sources familiar with the matter said the letter states that the mill

Steel demand in India to remain robust: Chandrasekaran
Fri, 07 Jul 2023 00:00:00 GMT
Demand for steel in India is expected to remain robust over the current fiscal year with consumption growing in double digits on the back of infrastructure development, rapid urbanisation and supportive policy reforms, Tata Steels Chairman, Natarajan Chandrasekaran said at an Annual General Meeting of the company. The Fiscal Year (FY) 22-23 witnessed some intense geo-political and economic volatility. This in turn has created constant disruptions in the global supply chains creating a

Tata Steel UK delivers its first low-carbon shipment to Boecker ...
Fri, 30 Jun 2023 00:00:00 GMT
Tata Steel UK delivered its first low-carbon shipment to infrastructure supplier Boecker Stahl-Service, part of Niedax Group in Schwerte, the UKs biggeststeelmakersaid June 29. Tata Steel UK delivered 22 mt of low-carbon hot-dipped galvanized coil to Boecker Stahl-Service that it will use to produce cable tray systems, which are used in infrastructure projects with

Tata Steel plans Rs 16,000 cr consolidated capex for domestic ...
Sun, 18 Jun 2023 00:00:00 GMT
The projected capital expenditure (capex) for FY2023-24 is set at Rs 16,000 crore on a consolidated basis which is intended to be financed through internal accruals over the full year, PTI quoted Tata Steel's CEO & MD T V Narendran and Executive Director & CFO Koushik Chatterjee as saying in the company's annual report for

Tata Steel taps SMS to develop decarbonisation technology
Fri, 16 Jun 2023 00:00:00 GMT
Tata Steel and Germanys SMS Group inked a memorandum of understanding (MOU) to collaborate on the decarbonisation of the steelmaking process, the former informs in a press release seen byKallanish. According to the MOU, Tata and SMS shall undertake further technical discussions and initiate actions for conducting a joint industrial demonstration of the EASyMelt

Tata Steel Netherlands to lift force majeure on CRC deliveries
Fri, 09 Jun 2023 00:00:00 GMT
Tata Steel Netherlands plans to remove the force majeure declaration it invoked on cold-rolled coil deliveries in late February, the company announced on Thursday June 8. The force majeure, which was declared on February 24 following disruptions during an upgrade of cold-rolling mill 21 at the companys Ijmuiden steelworks, will be lifted on June 12. The disruption

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