Tata Steel Netherlands Seeks Funding to Support Decarbonization Plan

SEATTLE (Scrap Monster): India-headquartered Tata Steel’s Netherlands unit announced that it is seeking financial assistance from the Dutch government to execute its decarbonization plans.

It must be noted that the company’s UK unit had recently secured funding from the government in support of its investment in EAF steelmaking at the Port Talbot site, which houses UK’s largest steelworks. The company’s UK operations employs around 8,000 people.

According to TV Narendran, CEO and MD, Tata Steel, the company plans to submit a detailed decarbonization proposal to the Dutch government for its regulatory and financial support. The support from the government is critical for the company’s Dutch operations. The company will have thorough discussions with the government on the detailed conditions of the project, he added.

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The Board of Directors will consider the detailed project for approval at the appropriate time. Tata Steel declined to make disclosure on the decarbonization plans it plans to implement in the 7 million tonne per annum (MTPA) plant in IJmuiden, Netherlands. The company aims to produce carbon-neutral steel in Europe by 2050.