New Delhi

Tata Steel Chairman N. Chandrasekaran, said on Wednesday, that he is confident that transition to green steel in the UK and Netherlands will complete on time.

He said this while addressing the shareholders at the company's 118th Annual General Meeting (AGM).

Chandrasekaran said, "... We are confident that green steel manufacturing in the UK and the Netherlands will work according to our plans in the next few years."

In the UK, the company has made progress towards low-emission steel manufacturing with the closure of two blast furnaces at Port Talbot, paving the way for a shift to state-of-the-art electric arc furnace-based steel manufacturing by FY 2027-28. It will be supported by 500 million pounds of funding from the UK government.

He said that in the Netherlands, the company is “in discussions with the government for financial and policy-level support on its plan to achieve zero carbon emissions. Tata Steel has also launched a cost transformation programme, which aims to save 500 million euros in the current FY (2025-26). These efforts are aimed at establishing Tata Steel Netherlands as one of Europe's most efficient and environmentally friendly steel manufacturers.”

India-based Tata Steel owns Britain's largest steel plant with a capacity of 3 million tonnes per annum at Port Talbot in South Wales.

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As part of its efforts to reduce carbon emissions, the company is shifting from the blast furnace route to a low-emission electric arc furnace process.