Will decide on UK ops in 2 yrs, says Tata Steel CEO

NEW DELHI: Tata Steel needs to take a call on the future of its UK operations in the next year or two as the assets are nearing the end of life and the status quo cannot continue, the company’s global CEO and Managing Director TV Narendran said.

Tata Steel has sought a financial package from the UK government for replacing two blast furnaces, which are nearing the end of life in 12-24 months, and bringing down the carbon footprint at its Port Talbot facility in South Wales.

The status quo cannot continue, Naredran said, adding that the company will either have to shut down the operations there or it will have to execute the decarbonisation plans with the help of a financial package from the UK government.

The company is talking to the UK government for a package because the assets are coming near the end of life.

“The status quo can’t continue. Those assets will either have to be shut down or we have to transition into a new process route, so there are some calls that need to be taken in the UK in the next year or two,” said Narendran.

When asked if the company would exit the UK in the absence of monetary aid from the UK government, he said, “In UK, it’s more a question of discussion with the government because the government is in dialogue with us to see what support they can give, what support they can’t give, so we will have to evaluate based on our conversations with the government.”