TATA will open steel plant in Ludhiana: CM handed over land allotment letter to CEO, Mann said – youth will get employment

Ludhiana7 hours ago

  • copy link

CM Bhagwant Singh Mann handing over the letter of allotment of land to the CEO of Tata.

Punjab Chief Minister Bhagwant Mann handed over land allotment letter to Tata Group for setting up a scrap based steel plant in Ludhiana. On Friday, Tata Steel Limited CEO and Managing Director TV Narendran met the CM. During this, the CM said that we are firmly committed to make Punjab a leading state in the industrial sector. Tata Group’s investment is the next step in this direction.

Chief Minister Mann said that today is the day to be written in golden letters in the industrial history of the state as this is the first investment of this world class leading company in the state. He expressed hope that this investment by this large industrial group would further accelerate the pace of industrial development of the state.

Bhagwant Mann said that it is a matter of great pride for Punjab. The state government will give full support to the Tata Group in setting up and making the plant operational in the state. The youth of the state will be greatly benefited by this project, as it will create new employment opportunities. He said that the Tata Group would invest around Rs 2,600 crore in the first phase of the project, which would lead to setting up of a steel plant in Ludhiana along with Punjab government’s Hi-Tech Valley Industrial Park.

He also congratulated the team of ‘Invest Punjab’ who supported the efforts of the Tata Steel managers to set up the Tata Group’s first scrap based steel plant in India. The CM said that this plant based on electric arc furnaces would produce 0.75 MTPA of finished steel and the raw material for the steel making process would be 100 per cent scrap. The plant will be spread over 115 acres of land adjoining a state-of-the-art industrial park developed by PSIEC.

Finding the right location for greenfield project

The CM said that he has found the right place for his desired greenfield project in Punjab. Punjab is a suitable location for Electric Arc Furnace due to its proximity to the market and scrap generating auto hub in Haryana. Steel produced by recycling has low carbon emissions, low resource consumption and low energy use, reflecting the group’s commitment to reducing the impact on the environment in its operations. Narendran said that the Tata Group sees better growth prospects in the state.

Tata Steel Group is one of the top global steel companies with an annual crude steel production of 34 million tonnes per annum. With operations and commercial presence around the world, it is one of the world’s most geographically diverse steel producers. The group recorded a combined turnover of US$ 21.06 billion in the financial year ended March 31, 2021.

There is more news…

Source link


Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: