Tata Steel UK, a subsidiary of India-based steelmaker Tata Steel Limited, has announced that it has sold a redundant 99-acre land site within its Corby pipe facility to a leading real estate developer and will use the funds from the sale for further investments in pipe production. The company has not specified the sale price; however, media reports valued the deal at £12 million.
Accordingly, within the scope of a £30 million investment program planned for the Corby facility, the company will use the funds to revamp one of its warehouses, create an engineering workshop, and upgrade one of its pipe finishing lines. Also, the buyer of the land will turn it into a fully-serviced logistics hub.
