Leon Topalian, President & CEO of Nucor Corporation, has been elected as Chairman of worldsteel, with T V Narendran, MD & CEO of Tata Steel, chosen as one of its Vice-Chairmen. Jeong-Woo Choi, CEO of POSCO Holdings, was also elected as a Vice-Chairman. Narendran, along with Sajjan Jindal, CMD of JSW Steel, and L N Mittal, Executive Chairman of ArcelorMittal, were appointed to the Executive Committee.
Tata Steel plans to complete its decarbonisation journey at its UK plant within the next three years, according to CEO T V Narendran. The company will transition from the blast furnace route to the low-emission electric arc furnace process. Tata Steel is engaged with European suppliers to source new plant machinery, and recently secured a joint investment plan of £1.25bn ($1.73bn) with the UK government for decarbonisation at its Port Talbot steel making facility.
India-headquartered Tata Steel owns the UK's largest steelworks of 3 million tonne per annum (MTPA) at Port Talbot in South Wales and employs around 8,000 people across all its operations in that country
Tata Steel has secured a £500 million grant from the UK government to support the transition of its Port Talbot plant to more sustainable technologies. The grant will help the plant shift to electric arc furnaces, with the project estimated at £1.25 billion. The rest of the capital is expected to be provided by Tata Steel.
During the meeting to confirm his re-appointment for the next five years, Narendran received an overwhelming 99.47 per cent of the total shareholders votes in his favour, , tata group, tata steel, tv narendran