Tata Group breaks ground on Punjab Steel Plant, pioneering recycling innovation

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Tata Group breaks ground on Punjab Steel Plant, pioneering recycling innovation

Tata Group breaks ground on Punjab Steel Plant, pioneering recycling innovation

Industry News
Oct 23,23

This venture, spearheaded by the esteemed Tata Group, entails an investment of Rs 2,600 crore and is poised to create 2,500 employment opportunities within the state.

Tata Group breaks ground on Punjab Steel Plant, pioneering recycling innovation

Punjab Chief Minister Bhagwant Mann marked a significant milestone by laying the foundation stone for a new steel plant in Ludhiana. This venture, spearheaded by the esteemed Tata Group, entails an investment of Rs 2,600 crore and is poised to create 2,500 employment opportunities within the state.

This cutting-edge steel plant project in Punjab centres around steel production through a recycling approach. Tata Steel had inked a Memorandum of Understanding (MoU) with the Punjab Government on August 26, 2022, to establish a 0.75 million tonnes per annum (MnTPA) long products steel plant. Notably, the facility will feature a scrap-based electric arc furnace.

Praising Tata Group for their impactful initiative, Chief Minister Bhagwant Mann emphasised that this recent investment would significantly enhance industrial growth in Punjab, fostering a wave of fresh employment prospects.

During the inauguration ceremony, Chanakya Chaudhary from Tata Steels commended the government’s swift action, highlighting that construction commenced merely 14 months after the MoU signing.

Punjab's strategic location, particularly its proximity to markets and the bustling Auto Hub generating scrap, makes it an ideal site for our electric arc furnace, remarked T V Narendran, Chief Executive Officer & Managing Director of Tata Steel. Steel production under the renowned Tata Tiscon brand will adopt a recycling approach, minimising resource consumption and carbon emissions significantly.

This pioneering steel plant marks a historic first for the Tata Group in Punjab, producing construction-grade steel rebar under the flagship retail brand 'Tata Tiscon.' This move is set to fortify Tata Steel's presence in the construction sector substantially.

It’s worth noting that Tata Steel took a monumental step last year by commissioning its inaugural Steel Recycling Plant with a capacity of 0.5 MnTPA in Rohtak, Haryana. This state-of-the-art facility represents the country's first high-tech scrap processing plant, underlining Tata Steel's commitment to innovation and sustainable practices in the steel industry.

Source: Mint