Skip to content
Search AI Powered

Latest Stories

Tata Steel Relaunches Blast Furnace At Port Talbot

TATA Steel on Tuesday (29) relaunched a blast furnace at a cost of “tens of millions of pounds” at Port Talbot in Wales, UK.

The life extension project of Blast Furnace 5, described by the Indian steel giant as the “biggest single investment” in its European operations in more than five years, is seen as a key part of its plans to strengthen its operations in the UK.


“This project demonstrates our commitment to building a stronger and more sustainable steelmaking business in the UK, now and in the future,” said Hans Fischer, chief executive of Tata Steel’s European operations.

Ahead of Tuesday’s vote on Britain’s withdrawal bill in parliament, Fischer said Tata Steel would hope for a last-minute deal that did not result in a hard Brexit.

He said: “When you look to our production, more than 70 per cent stays in the UK. So directly the impact of Brexit is maybe not that big.

“But if our customers are impacted very heavily, then that immediately leads to a disturbance in the supply chain and that immediately leads to disturbances in our productions as well. In the short term that’s what I’m really worried about”.

The Port Talbot project had been announced in June 2018, alongside agreements signed by Germany’s Thyssenkrupp and Tata Steel to form a joint venture of their European steel businesses.

Tuesday’s furnace restart, attended by Welsh first minister Mark Drakeford, is expected to extend the operational life of one of two blast furnaces at the plant.

Tata Steel said engineers drained the giant furnace last year in order to carry out vital engineering work, extending its life by five to seven years. Following the relighting of the furnace, the first iron has now been produced and turned into a finished steel product before being delivered to a manufacturing business in the UK.

Once the heart of the furnace, which is normally more than 1,200 degrees Celsius, cooled in 2018, skilled engineers replaced part of the heat resistant interior and vital structural parts.

“The waste gas and dust extraction system was also replaced. The final part of the process involved the hot blast main being opened, injecting air at 1,100 degrees Celsius, bringing the furnace roaring back to life,” said Tata Steel in a statement.

Tata Steel is one of Europe’s leading steel producers, with steelmaking in the Netherlands and the UK and manufacturing plants across Europe. The company supplies “high-quality” steel products across different markets such as construction and infrastructure, automotive, packaging and engineering, it said.

More For You

FCA warns against regulatory 'race to bottom' in growth push
Nikhil Rathi
TOLGA AKMEN

FCA warns against regulatory 'race to bottom' in growth push

FINANCIAL REGULATOR has cautioned against compromising regulatory standards while attempting to boost economic growth, revealing the delicate balancing act facing Britain's financial oversight.

In a frank discussion with MPs, the Financial Conduct Authority (FCA) leadership highlighted the challenges of their expanded mandate to promote business competitiveness alongside consumer protection, reported the Times.

Keep ReadingShow less
Sanjay Bhandari's extradition appeal opens in London
Sanjay Bhandari

Sanjay Bhandari's extradition appeal opens in London

SANJAY BHANDARI, a consultant in the defence sector wanted in India on alleged tax evasion and money-laundering charges, began an appeal in the High Court in London against his extradition order.

The 62-year-old businessman had won permission to appeal against a November 2022 Westminster Magistrates’ Court ruling clearing his extradition earlier this year.

Keep ReadingShow less
Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)
Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)

Murdoch's bid to secure eldest son's control of media empire fails

RUPERT MURDOCH’s attempt to secure control of his media empire for his eldest son, Lachlan, has reportedly failed, according to a US news report on Monday.

The Murdoch family, which oversees influential outlets like Fox News, The Wall Street Journal, and various British and Australian media organisations, has often been compared to the fictional dynasty in the TV series Succession. Like the show, real-life disputes within the Murdoch family have centred on control of the business after Rupert Murdoch’s death.

Keep ReadingShow less
Kamlesh Pattni faces UK sanctions for illicit gold trade
Pattni stands accused of central involvement in the infamous Goldenberg scandal. (Representational image: iStock)

Kamlesh Pattni faces UK sanctions for illicit gold trade

THE UK and US have imposed financial sanctions on Kamlesh Pattni, a British-Kenyan businessman with a controversial financial history. The punitive measures target Pattni and four of his close family members, including his wife and brother-in-law, reported the BBC.

The sanctions, announced by the UK Foreign, Commonwealth and Development Office, will result in the immediate freezing of assets, representing a significant intervention in what officials describe as a complex network of illicit gold trading spanning multiple African nations.

Keep ReadingShow less
Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)
Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)

India appoints Sanjay Malhotra as new central bank governor

INDIA has appointed Sanjay Malhotra, a senior finance ministry bureaucrat, as the new governor of its central bank, the Reserve Bank of India (RBI).

The announcement was made on Monday, a day before the term of outgoing governor Shaktikanta Das was set to expire.

Keep ReadingShow less