Tata Steel signs a Memorandum of Understanding with the Government of Punjab to set up an electric arc furnace steel mill based on steel scrap

Chandigarh, 28 August 2022

~ The MoU strengthens the Company’s commitment to grow sustainably ~

~ Another initiative in our journey to become Net Zero in 2045 ~

Tata Steel signed a Memorandum of Understanding (MoU) on 26 August 2022 with the Government of Punjab to set up a 0.75 MnTPA long product steel plant with a scrap-based electric arc furnace (EAF). The MoU was signed in the presence of Shri Bhagwant Mann, the Honorable Chief Minister of Punjab.

The initiative to set up greenfield facilities at Kadiana Khurd, Hitech Valley, Ludhiana in Punjab is part of Tata Steel’s commitment to invest in a circular economy and shift to low-carbon steel manufacturing through steel recycling lines. This is a step in line with the Company’s goal of achieving Net Zero carbon emissions by 2045.

The state-of-the-art EAF-based steel mill will manufacture construction-grade steel rebar under the Company’s flagship retail brand ‘Tata Tiscon’, which will enable Tata Steel to further enhance its market presence in the construction segment.

Shri Bhagwant Mann, Honorable Chief Minister of Punjabsaid: “It is my pleasure to welcome the Tata Group to the State of Punjab. Investments by the Tata Group in the Steel Sector in Punjab will boost industrial growth in the State. This is a proud moment for Punjab. My government gives full support to make this venture a resounding success. I am sure that Punjabi youth will benefit from the job opportunities this project generates.”

In the opportunity, TV Narendran, Chief Executive Officer & Managing Director, Tata Steel, said: “I want to thank the Government Punjab for their support of our ambitious greenfield project in the State. Punjab is an ideal location for our electric arc furnace given its proximity to Auto scrap markets and manufacturing hubs. Steel produced through recycling requires lower resource consumption and lower carbon emissions, which strengthens our commitment to reducing the environmental impact of our operations. We saw good long-term growth potential for steelmaking via the scrap pipeline in India, if effective and simplified scrap collection policies are devised and implemented.”

In August last year, Tata Steel inaugurated its first Steel Recycling Plant with a capacity of 0.5 MnTPA at Rohtak in Haryana. It is the country’s first state-of-the-art scrap processing facility.

In pursuit of its net zero ambition and achieving leadership in sustainability, Tata Steel has made focused interventions across the value chain and is committed to reducing its carbon footprint in production and throughout the product life cycle. In India, the Company aspires to achieve a CO2 emission intensity of <2 tCO2/tcs by 2025 and <1.8 tCO2/tcs by 2030.

To accelerate efforts to ensure product sustainability, Tata Steel makes effective use of the Life Cycle Assessment (LCA) tool to understand and improve the environmental performance of its products. In FY 2021-22, Tata Steel became the first steel reinforcement manufacturer to receive GreenPro certification for Tata Tiscon’s TMT rebar. The Company has also issued the first Environmental Product Declaration (EPD) for Steel Reinforcing bar (Rebar) used in Reinforced Cement Concrete (RCC) construction. In Europe, the Company has produced more than 50 Environmental Product Declarations (EPDs) for its construction sector customers – a significant milestone in transparency and environmental impact reporting.

About Tata Steel

The Tata Steel Group is one of the top global steel companies with an annual raw steel capacity of 34 million tons per year. It is one of the most geographically diversified steel producers in the world, with operations and commercial presence worldwide. The Group recorded a consolidated turnover of US$32.83 billion in the financial year ending 31 March 2022.

A Great Place To Work CertifiedTM organization, Tata Steel Limited, together with its subsidiaries, associates and joint ventures, is spread across five continents with an employee base of more than 65,000. Tata Steel has been part of the DJSI Emerging Markets Index since 2012 and has consistently been among the top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016. In addition to being a member of ResponsibleSteelTM, Worldsteel Climate Action Program and World Economic Forum Global Parity Alliance, Tata Steel has won several awards and recognition including World Economic Forum Global Beacon recognition for Jamshedpur, Kalinganagar and IJmuiden Mills, and Prime Minister’s Cup for best performing integrated steel mill for 2016- 17. The company, which is ranked as the most valuable Metals & Mining brand in India by Brand Finance, is among CII Top 25 innovative Indian Companies in 2021 and top 10 sustainable organizations of India Hurun Research Institute in 2021 Capri Global Capital Hurun India Impact 50 , received Steel Sustainability Champion recognition from worldsteel for five consecutive years, ‘Most Ethical Company’ award 2021 from Ethisphere Institute, RIMS India ERM Award of Distinction 2021, Masters of Risk – Metals & Mining Sector award at The India Risk Management Awards during six years in a row, and the FY20 Award for Excellence in Financial Reporting from ICAI, among others.

To find out more, visit www.tattasteel.com and We Also Make Tomorrow

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Disclaimer:

Statements in this press release that describe the performance of the Company may be “forward-looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that may affect the Company’s operations include economic conditions affecting demand/supply and price conditions in the domestic and foreign markets where the Company operates, changes in or due to the environment, Government regulations, laws, statutes, statements judicial and/or other incidental factors.

For media inquiries contact:

Sarvesh Kumar

Head, Corporate Communications – Tata Steel

Email: sarvesh.kumar@tatasteel.com





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