Tata Steel confirms report on potential $3.26 billion Dutch government's support for IJmuiden factory; stocks rise 2.07%

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₹172.70, on June 6, at 10:45 p.m., on the BSE.Also Read | Stocks to watch: Force Motors, BHEL, RVNL, IEX, Tata SteelBloomberg reported that Tata Steel's IJmuiden plant has been associated with significant health and environmental issues in the surrounding area. According to the Dutch National Institute for Public Health and the Environment, emissions from the plant have been linked to lower life expectancy, increased lung cancer risk, and higher asthma rates among children.Also Read | Tata Steel Share Price Highlights : Tata Steel closed today at ₹169.2, up 6.55% from yesterday's ₹158.8Tata Steel confirmed that discussions with the Dutch Government regarding a decarbonization roadmap are ongoing.

The Dutch Parliament recently mandated the government to negotiate potential support terms for Tata Steel Nederland's decarbonization proposal.Also Read | Near-term uncertainties cloud the horizon for Tata SteelThe Dutch Government has formulated a detailed framework involving diligence, analysis, discussions, and negotiations with Tata Steel. This process is expected to span several months before concluding.

The agreed terms will require approval from the Netherlands Parliament and Tata Steel's Board."Apart from the money we will put into our Green Steel plan ourselves, we will need government support, just like our competitors in Germany, Belgium, and France, to establish a European-level playing field as much as possible," said Tata Steel spokesman Peter van Boesschoten.Despite media speculation, Tata Steel emphasized that drawing any conclusions at this stage is premature. The company remains committed to making accurate and timely disclosures in compliance with the Securities and Exchange Board of India (SEBI) Listing