The Institute of Directors has hosted a session called "From Furnace to Future" at Tata Steel's world class Academy in Port Talbot
IoD Wales, Chairman Richard Selby welcomed over 50 local business directors to the sharing and learning event, which focused on Tata Steel's transition to low CO2 steelmaking by investing £1.25 billion in the latest electric arc furnace technology.
Tata Steel's Director Decarbonisation, Huw Morgan, shared a presentation giving an overview of Tata Group and Tata Steel in the UK, before explaining the background to the company's technology choices and its decision to restructure its UK business.
He went on to map out the milestones already achieved including the Grant Funding Agreement with the UK Government and the signing of a contract with the National Grid. With a plan to commission the EAF by the end of 2027 / early 2028, Huw shared the next stages on the journey, including public consultation, planning permission, and contracts with equipment manufacturers.
Huw's presentation was followed by a panel discussion about the company's transition and the wider impact of its restructuring, including the work of the Transition Board, the Local Authority and the potential for inward investment through initiatives such as the Celtic Freeport.
The panel comprised: Rajesh Nair, CEO Tata Steel UK, Karen Jones, CEO Neath Port Talbot County Borough Council, Sarah Williams-Gardener, CEO Fintech Wales and Transition Board Member, Luciana Ciubotariu, CEO Celtic Freeport, and Huw Morgan.
About Tata Steel UK
- The Tata Steel Group has been named one of the most ethical companies in the world, and is among the top producing global steel companies with an annual crude steel capacity of 34 million tonnes.
- Tata Steel in the UK has the ambition to produce net-zero steel by 2045 at the latest, and to have reduced 30% of its CO2 emissions by 2030.
- In October 2024, Tata Steel ceased ironmaking at its Port Talbot site and temporarily paused steelmaking pending the construction of a 3.2Mtpa Electric Arc Furnace, due to be commissioned late in 2027 / early 2028. For that period, the business will import slab and hot rolled coil to support manufacturing and distribution operations at sites across Wales, England and Northern Ireland as well as Norway, Sweden, France, Germany and UAE. It also benefits from a network of sales offices around the world.
- Throughout 2024 Tata Steel UK has been undergoing a restructuring that will reduce the size of its workforce to around 5000 direct employees, supplying high-quality steel products to demanding markets, including construction and infrastructure, automotive, packaging and engineering.
- Tata Steel Group is one of the world's most geographically-diversified steel producers, with operations and a commercial presence across the world.
- The group recorded a consolidated turnover of around US$27.7 billion in the financial year ending March 31, 2024.
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