Tata Steel to stop operations of coke ovens at UK plant due to...

Tata Steel, whose market cap is Rs 187000 crore on NSE, has announced to close operations of the coke ovens at the Port Talbot plant in the UK. The company in a regulatory filing said that it will increase import of coke to offset the impact of the coke oven closures.

"As a further update on its operations in the UK, Tata Steel UK has decided to cease operations of the coke ovens at the Port Talbot plant, in Wales, following a deterioration of operational stability," the filing said. Earlier, the company had stated that many of its heavy-end assets in Port Talbot are at their end-of-life capability.

Tata Steel is currently at an advanced stage of consultations with trade unions in the UK on its proposal for the planned restructuring involving closure of the iron and steelmaking assets at Port Talbot, and transition to sustainable low-carbon steelmaking facility. The transition plan involves a 1.25 billion pound investment in Electric Arc Furnace technology in Port Talbot and asset upgrades.

(With inputs from PTI)

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