Tata Steel signs MoU with Govt of Punjan

2 Sep 2022 , 01:33 AM

Tata Steel signed a Memorandum of Understanding MoU on 26 August 2022 with the Government of Punjab for setting up a 075 MnTPA long products steel plant with a scrap-based electric arc furnace EAF This initiative to set up the greenfield facility at Kadiana Khurd Hitech Valley Ludhiana in Punjab is part of Tata Steels commitment to investing in a circular economy and transitioning to low-carbon steelmaking through the steel recycling route It is a step aligned to the Companys goal of achieving Net Zero carbon emission by 2045 The state-of-the art EAF-based steel plant would produce construction grade steel rebar under the Companys flagship retail brand Tata Tiscon which would enable Tata Steel to further augment its market presence in the construction segment