Tata Steel Scrape Based Plant: Tata Steel, which has spread its business to 5 continents of the world, is now going to open a scrap based steel plant in Punjab.
New Delhi : Tata Steel plant in Punjab: Tata Steel, the company of the country's famous business group Tata Group, is going to open a new steel plant in Punjab. An agreement has been signed with the Punjab government for this. The plant has the capacity to produce 0.75 million tonnes of steel annually. The Punjab CM has said that the youth of the state will be given jobs on a large scale in the plant.
Tata Steel, a big name in the field of steel production, is continuously expanding its business across the country. Recently, Tata Steel has taken over the debt-ridden steel company Nilanchal Ispat Nigam Limited (NINL). According to Tata Steel, steel production will be started in it soon. Meanwhile, Tata Steel has made preparations to open a new plant in Ludhiana, Punjab.
Punjab Chief Minister Bhagwant Mann on Friday, 26 August handed over the letter to the Tata Group to allot land for setting up a scrap-based steel plant in Ludhiana with an investment of Rs 2,600 crore. To be built in the Hitech Valley Industrial Area, this plant will produce 0.7 million tonnes of steel annually.
The Punjab Chief Minister said that land has been allotted to Tatas for setting up a steel plant to boost the industrial development of the state. This will give employment to the youth of the state. Tata Steel Managing Director TV Narendran said that 100% scrap based steel will be produced in this plant.
Tata Steel's business is spread in 26 countries including India in 5 continents and it is the 10th largest steel producer in the world. The largest plant of Tata Steel in India is located in Jamshedpur which produces 10 million tonnes of steel annually. Tata Steel has an overall annual crude steel production capacity of 34 million tonnes.
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