The UK on Friday announced that it had agreed a joint investment package with Tata Steel for the country's largest steelworks in Wales, including a grant worth up to GBP 500 million.
Tata Steel must decide on the future of its UK operations within a year due to assets nearing the end of their operational life, says managing director TV Narendran.
On European operations, T.V. Narendran, CEO and MD, Tata Steel Ltd, said the company’s operations in the Netherlands would be able to sustain itself through its earnings and support from the government, but the UK operations remain a concern
Tata Steel will have to take a call on the future of its operations in the United Kingdom within the next year as some of its assets there approach the end of their operational life, managing director TV Narendran said.
Tata Steel reports Q3 revenues of ₹59,490 crore, with EBITDA of ₹6,122 crore. Profit after tax is ₹525 crore. India s revenues at ₹34,901 crore, EBITDA at ₹7,514 crore. Tata Steel Kalinganagar expanding capacity by 5 MTPA, including construction of largest blast furnace in India.