Tata Steel’s chairman has warned that ‘decision time is nearing’ regarding the company’s Port Talbot plant, with the future of the company’s UK business in the balance as the furnace approaches the end of its working life.
''The blast furnace will come to the end of its life cycle in a year or so...before that, we have to take a decision; our preference is to replace it with an EAF.’'
Natarajan Chandrasekaran, chairman of Tata Steel
Natarajan Chandrasekaran, chairman of Tata Steel, informed shareholders at the 116th annual general meeting of Tata Steel that ‘the blast furnace will come to the end of its life cycle in a year or so. Before that, we have to take a decision; our preference is to replace it with an EAF.’
Previously, the company has implied a level of uncertainty over the level of support on offer from the UK government to enable the transition to the production of green steel from the electric arc furnace. Chandrasekaran added that discussions are ongoing with multiple stakeholders, including the UK government and the unions, to arrive at the ‘right decision’.
“There are various options, and we are trying to see what is the right option.”
Natarajan Chandrasekaran, chairman of Tata Steel
“There are various options, and we are trying to see what is the right option,” he said.
Port Talbot is the UK’s largest steelworks, employing around 4,000 workers, with a production capacity of 5Mt.
Source: Nation Cymru