Tata Steel CEO requests meeting with UK government regarding electric arc furnace project delay

Tata Steel CEO T. V. Narandran stated that the company intends to discuss issues arising from the timely implementation of the Electric Arc Furnace (EAF) project at the Port Talbot plant with the UK government.

A company representative emphasized that Tata Steel has no delays in the construction of this 3.2 million-ton project, which is being realized with investments of £1.25 billion.

Narandran told PTI during the 53rd National Management Conference organized by the All India Management Association (AIMA) that they are in dialogue with the UK government to discuss possible steps.

These remarks were made in response to a question about further actions regarding the British project, which is facing difficulties in securing power supply.

Previously, in August, Narandran indicated that Tata Steel UK expects to gain access to electricity for its 3.2 million-ton EAF by 2029.

In May 2024, Tata Steel signed a connection offer with the Electricity System Operator (ESO). According to this agreement, National Grid must build new electrical infrastructure capable of supplying electricity to the 3.2 million-ton EAF by the end of 2027.

This state-supported project, backed by £500 million, aims to reduce the plant's CO2 emissions by 90 percent, equivalent to five million tons annually.

Regarding the request for additional funding from the UK government, Narandran, without denying it, noted that 'it is too early to say what stage we are at, but there is a conversation we are ready to have with them regarding our concerns.'

Concerning sector prospects, he added that while international markets continue to face difficulties, demand is growing in India. Demand is strong, and steel prices have started to rise over the last six to eight weeks, which is a positive development as coke coal prices have increased by $50-60 per ton.

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