Tata Steel Limited has informed the Exchange regarding a press release dated March 20, 2026, titled "Tata Steel Inaugurates its first Scrap-based Electric Arc Furnace in India".
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Tata Steel has inaugurated its first scrap-based Electric Arc Furnace (EAF) facility at Hi-Tech Valley, Ludhiana, Punjab, marking a major step toward its Net Zero by 2045 goal. The plant is built with an investment of approximately ₹3,200 crore and has an annual capacity of 0.75 million tonnes of steel. It is designed to achieve CO2 emissions of less than 0.3 tonnes per tonne of steel, use 100% steel scrap as raw material (with ~40% sourced from Tata Steel's Rohtak recycling plant), and run on nearly 50% renewable energy. The facility will produce construction-grade rebar under the 'Tata Tiscon' brand, strengthening Tata Steel's presence in the construction segment. The inauguration was attended by the Chief Minister of Punjab, Tata Steel Chairman N Chandrasekaran, and CEO & MD T V Narendran.
This is a positive development for shareholders, as it diversifies Tata Steel's manufacturing footprint into greener, scrap-based steelmaking and strengthens its retail rebar business. The new EAF positions the company well for the global shift toward low-carbon steel, potentially improving long-term competitiveness and supporting its premium sustainability credentials.