Indian Tata Steel will take up your steel mill Port Talbot
Tata Steel is a large Indian steel company. It had previously planned to merge with another entity. We are talking about the steel unit of Thyssenkrupp. This is one of the largest German corporations. Both the company has already agreed on the terms of the transaction. However, the plans were violated. The European Commission is not allowed to do it. But Tata Steel does not intend to sell its European assets. She’s not going to sell them, and in modernizing them.
First, the company will be engaged in their British metallurgical plant. It is called Port Talbot. By 2030 it plans to conduct its full modernization. Interestingly, earlier the company sold nearly all of its businesses. This refers to the British. However, the metallurgical plant she wants to keep. Apparently, the reason lies in the financing of the company. In recent years she has put in a lot of money. The average annual amount was 120 million pounds. It’s a little more than $ 150 million. This continued for three years.
Major investments have allowed the plant to rise significantly. Instead of constant losses, he began to make a profit. Additionally, the funding was extended for the operation of the enterprise. The extension amounted to at least 10 years. This became possible due to the overhaul. It was carried out on one blast furnace. All of these units two. Currently, the company plans to further upgrade. It intends to replace the converters. Two of them and they will be updated consistently. Thus, significantly increase the efficiency of the plant. In addition, to improve the quality of his product.