Punjab CM lays foundation of 7.5 LTPA Tata Steel Plant in Ludhiana
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Punjab Chief Minister Bhagwant Mann laid the foundation of a steel plant in Ludhiana on Friday. The steel plant, owned by Tata group, is being made at a cost of ?2,600 crore and is set to generate 2,500 jobs in the state.
The upcoming steel plant project in the state will focus on steel production through the steel recycling route. Tata Steel had signed an MoU with the Punjab Government to set up a 0.75 MnTPA long products steel plant in August 26,2022. The steel plant will also contain a scrap-based electric arc furnace.
Congratulating Tata Group for its new project in the state, Punjab Chief Minister Bhagwant Mann said that the recent investment in the state will boost industrial growth in Punjab and generate new employment opportunities for the state. On the occasion of the inauguration ceremony, Chanakya Chaudhary of Tata Steels applauded the government and highlighted how the construction work of the plant began within 14 months after the signing of MoU.
Punjab serves as an ideal location for our electric arc furnace given its proximity to the market and scrap generating Auto Hub. Steel productin under Tata Tiscon banner will be done through the recycled route. The process will entail lower resource consumption and lower carbon emissions, said T. V. Narendran, Chief Executive Officer & Managing Director, Tata Steel.
The steel plant will be the first steel producing unit of Tata group in Punjab. The upcoming plant will produce construction grade steel rebar under the Company’s flagship retail brand ‘Tata Tiscon’, which would enable Tata Steel to further augment its market presence in the construction segment.
In August last year, Tata Steel commissioned its first Steel Recycling Plant of 0.5 MnTPA capacity at Rohtak in Haryana. It is the first such state-of-the-art scrap processing facility in the country.
(Source : Mint)
