Tata Steel seeks 500 million pounds govt bailout in UK
4 years, 8 months ago

Tata Steel seeks 500 million pounds govt bailout in UK

India TV News  

Tata Steel's UK arm is seeking an estimated 500-million pounds government financial package to survive through the coronavirus lockdown period, according to UK media reports. Tata Steel, which owns the UK's largest steelworks in Port Talbot in Wales, is holding discussions with the Welsh government as well as the UK Treasury as it seeks the 50-million pounds cap set on loans being offered under the UK's Coronavirus Large Business Interruption Loan Scheme to be lifted. "We continue to have ongoing discussions with Tata Steel about what support it needs to sustain a strong steel making presence in the UK and in Wales," a Welsh government spokesperson said. "The 50 million pounds cap on loans that are now available under the government support scheme is only about 10 per cent of what Tata Steel actually needs," said Opposition Labour MP Stephen Kinnock, whose constituents make up much of the steel workforce in Port Talbot.

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History of this topic

More funds to support steel workers and businesses
3 weeks ago

More funds to support steel workers and businesses

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Government has announced it …

Tata Steel signs £500 million deal with UK government for Port Talbot
3 months, 4 weeks ago

Tata Steel signs £500 million deal with UK government for Port Talbot

Live Mint  

The UK government has awarded Tata Steel Ltd a £500 million grant for its green steel project in Port Talbot. Tata Steel Ltd has signed a £500 million grant funding agreement with the UK government for its £1.25 billion green steel project in Port Talbot. Jobs at stake Alongside its planned £750 million investment, Tata Steel has deployed its global …

Tata Steel proposes additional support package of 130 million pounds for Port Talbot workers in UK
11 months ago

Tata Steel proposes additional support package of 130 million pounds for Port Talbot workers in UK

Live Mint  

For the workers who would be affected as part of its transition plan in the United Kingdom, Tata Steel has proposed an additional financial 'support package' of around 130 million pounds, reported PTI on 4 February. {{^adFree}} {{/adFree}} The company drafted a decarbonization plan for Tata Steel UK to reduce carbon emissions and save energy costs including installing new plant …

Tata Steel to cut 3,000 jobs in Wales: Report
11 months, 3 weeks ago

Tata Steel to cut 3,000 jobs in Wales: Report

Hindustan Times  

Indian-owned Tata Steel is to cut about 3,000 jobs at a plant in Wales, a source with knowledge of the plan said Thursday, as the industry struggles to finance greener production of the metal. Towards the end of last year, the UK government provided £500 million to fund the production of "greener" steel at the country's biggest steelworks, while saying …

Government ‘in talks with Tata Steel to provide £500m funding package’
1 year, 4 months ago

Government ‘in talks with Tata Steel to provide £500m funding package’

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Government is reportedly in advanced talks with Tata Steel …

Tata Steel plans ₹16,000 crore consolidated capex in FY24; check details
1 year, 6 months ago

Tata Steel plans ₹16,000 crore consolidated capex in FY24; check details

Live Mint  

Industry giant Tata Steel is planning a consolidated capital expenditure of ₹16,000 crore for its domestic and global operations during the current financial year, according to its top management, according to news agency PTI. Out off the planned amount, Tata Steel has earmarked ₹10,000 crore towards standalone operations and ₹2,000 crore for its subsidiaries in India,said the company's CEO & …

Fears over future of Tata steel plants amid Government support impasse
2 years, 5 months ago

Fears over future of Tata steel plants amid Government support impasse

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. No steel plant in the world has decarbonised their …

Tata Steel hits Rs 1 lakh crore in market capitalisation, stock touches 52-week high
3 years, 9 months ago

Tata Steel hits Rs 1 lakh crore in market capitalisation, stock touches 52-week high

India TV News  

Tata Steel on Tuesday touched Rs 1 trillion in market capitalisation after the scrip hit a 52-week high of Rs 882.50. Tata Steel now becomes the fourth company of the Tata Group to hit Rs 1 trillion in market capitalisation. The agency estimated adjusted debt levels for Tata Steel will decline by about 30 per cent by March 2023 from …

Tata Steel may turn a corner after subsidiary shows recovery on track
4 years, 2 months ago

Tata Steel may turn a corner after subsidiary shows recovery on track

Live Mint  

The steel sector is building up a case for a turnaround after a dull first quarter. The decent jump in volumes in Tata Steel BSL Ltd led it to post a sharp recovery in the September quarter and return to profitability. That is also expected to reflect in Tata Steel’s sales performance, with the steel major’s domestic volumes shooting up …

Tata Steel proposes 1 billion pound UK rescue: Report
4 years, 5 months ago

Tata Steel proposes 1 billion pound UK rescue: Report

Live Mint  

Tata Steel has proposed that the U.K. government invest more than 900 million pounds to take a stake in its British operations and protect the Port Talbot steelworks in Wales. Tata Steel Ltd. has proposed that the U.K. government invest more than 900 million pounds to take a stake in its British operations and protect the Port Talbot steelworks in …

Tata Steel's sale of building systems unit stalls: Report
4 years, 5 months ago

Tata Steel's sale of building systems unit stalls: Report

Live Mint  

LONDON: Tata Steel has laid aside plans to sell its Building Systems unit, which makes cladding and insulation panels, two sources close to the matter said, citing uncertainty in the industry that was aggravated by the coronavirus crisis. {{^adFree}} {{/adFree}} Tata Steel late last year hired French investment bank Credit Agricole to help find a buyer for the business operating …

Hopes grow of £500m rescue for Tata Steel
4 years, 6 months ago

Hopes grow of £500m rescue for Tata Steel

The Telegraph  

Britain’s biggest steelmaker Tata Steel is on the brink of securing a £500m taxpayer bailout as it fights to survive the global economic meltdown. Part of Indian conglomerate Tata Group, the company runs the giant Port Talbot steelworks in South Wales which is seen as a key strategic reserve and supports many thousands of supply chain jobs. Support for Tata …

Tata Steel confirms 1,000 job cuts in UK as talks with workers kick off
5 years, 1 month ago

Tata Steel confirms 1,000 job cuts in UK as talks with workers kick off

India TV News  

Tata Steel Europe said it had begun consultations with the European Works Council on Wednesday on restructuring plans for its business, which would include up to 3,000 job losses – 1,000 of which will be in the UK. “As part of the comprehensive set of proposals, Tata Steel Europe intends to lower employment costs,” the company statement said. Tata Steel …

Tata Steel to cut 3,000 European jobs in ‘devastating blow’ to workforce
5 years, 1 month ago

Tata Steel to cut 3,000 European jobs in ‘devastating blow’ to workforce

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Plans by Tata Steel to …

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