About our Tata Steel news
Latest news on Tata Steel, an Indian multinational steel-making company, based in Jamshedpur, Jharkhand and headquartered in Mumbai, Maharashtra. It is a part of the Tata Group, one of the largest and most respected business conglomerates in India.
Tata Steel is among the largest steel producing companies in the world, with an annual crude steel capacity of 35 million tonnes. It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world. The group (excluding SEA operations) recorded a consolidated turnover of US$31 billion in the financial year ending 31 March 2023.
Tata Steel operates in 26 countries with key operations in India, the Netherlands, and the United Kingdom, and employs around 80,500 people. Its largest plant (10 MTPA capacity) is located in Jamshedpur, Jharkhand. In 2007, Tata Steel acquired the UK-based steel maker Corus, which was later renamed as Tata Steel Europe. Tata Steel also has a presence in Thailand through Tata Steel Thailand Public Company Limited (TSTH), which has a crude steel production capacity of 1.7 MnTPA.
The UK government is in advanced talks with Tata Steel over a £500m package to secure its long-term future in the UK, according to reports. Funding would be pumped into the Port Talbot steelworks in south Wales alongside £700m from the firm’s Indian parent company, Tata Group. Under the deal, Tata Steel would also be required to commit to building electric arc furnaces to reduce carbon emissions. The production process, which is less labour-intensive than current blast furnaces, could result in the loss of thousands of jobs.
In July, the government committed subsidies worth up to £500m to Tata Group’s £4bn pledge to build an electric car battery gigafactory in the UK. It is thought the factory, expected to be situated in Somerset, would bring 4,000 new jobs to the area.