Tata Steel to set up steel scrap recycling unit in northern India

Wednesday, 26 June 2019 11:57:15 (GMT+3)   |   Kolkata
       

India’s Tata Steel will set up a steel scrap recycling unit in the northern state of Haryana, a company statement said on Wednesday, June 26.

According to the company, the scrap recycling unit will be implemented on a build-own-operate (BOO) basis under agreement with Haryana-based Aarti Steels Limited.

The unit will have an annual capacity of 500,000 mt per year.

“In preparing for the future, Tata Steel will set up a steel recycling business to meet the growing demand for steel in a sustainable manner in the long run, Tata Steel chief executive officer (CEO) T V Narendra said in the statement.

“The steel recycling business will help formalize the scrap market in India and help the country transition to a scrap-based steelmaking route in the long term,” he added.


Most Recent Related Articles

Local Chinese pig iron prices in China - week 4

Samancor Chrome plans to retrench staff amid tough business conditions

Ex-CIS billet prices under pressure from weak demand, negative sentiment in scrap

Short sea scrap price down sharply in fresh deals to Turkey