The Tata Group has a business all over the world. Especially in the steel segment, the Tata Group has expanded its business in the UK. Now Tata Group company TATA STEEL SHARE PRICE has made a big deal with the British government. In order to reduce carbon emissions, britain's Rishi Sunak government has announced a grant of 500 million pounds (about Rs 5,150 crore according to Indian currency) to TATA STEEL SHARE PRICE. The British government has given this grant to reduce carbon emissions from Tata Steel's plant.
The company has given this information in a notification sent to the stock exchanges on September 15. Tata Steel's plant is located in Port Talbot, South Wales. Talks had been going on for the past several months over a consensus on the issue. Now there is a consensus between the two. The plant is on the verge of closure. But now TATA STEEL SHARE PRICE and the British government have jointly announced the setting up of a hi-tech electric arc furnace steel plant at the Port Talbot site with an investment of 1.25 billion pounds, including a government grant of 500 million pounds. The Sunak government is giving this money.
However, when the talks started in this matter, Tata Steel had demanded a large amount from the British government for this project, but now the joint deal has been done on an investment of 1.25 billion pounds. The closure of the plant would have put about 3,000 jobs at risk. On this deal, Tata Group Chairman N. Chandrasekaran said the deal with the British government is very positive for the future of the steel industry as well as for the UK's industrial value chain.
The proposed investment will save thousands of jobs and create a great opportunity for the growth of the green technology-based industrial ecosystem in South Wales. After this deal, the focus of TATA STEEL SHARE PRICE will now be on starting it. Tata Steel said that all the information about the project will have to be collected for the time being. Apart from this, the project can be commissioned within 36 months after getting all the necessary approvals and certificates. Meanwhile, shares of Tata Steel closed 0.38 percent higher at Rs 132.20 apiece on Friday. In the last month, the company's shares have risen 14.1 percent. In the last year, its share price has increased by about 25.07 percent.