Punjab CM Bhagwant Mann lays foundation of ₹2600 crore steel plant in Ludhiana
₹2,600 crore and is set to generate 2,500 jobs in the state. The upcoming steel plant project in the state will focus on steel production through the steel recycling route.
Tata Steel had signed an MoU with the Punjab Government to set up a 0.75 MnTPA long products steel plant in August 26,2022. The steel plant will also contain a scrap-based electric arc furnace.
On the occasion of the inauguration ceremony, Chanakya Chaudhary of Tata Steels applauded the government and highlighted how the construction work of the plant began within 14 months after the signing of MoU. The steel plant will be the first steel producing unit of Tata group in Punjab.
The upcoming plant will produce construction grade steel rebar under the Company’s flagship retail brand ‘Tata Tiscon’, which would enable Tata Steel to further augment its market presence in the construction segment. In August last year, Tata Steel commissioned its first Steel Recycling Plant of 0.5 MnTPA capacity at Rohtak in Haryana.
It is the first such state-of-the-art scrap processing facility in the country. "Exciting news! Mint is now on WhatsApp Channels
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