The Punjab government, led by Chief Minister Bhagwant Mann, has paved the way for the establishment of the first-of-its-kind Green Steel Plant in North India, with global giant Tata Steel making a significant investment of Rs 2600 crore. The project, spanning over 115 acres of land in Kadiana Khurd, Hi-Tech Valley, has received the green light for construction. The state-of-the-art facility will possess a capacity of 0.75 MTPA and employ a 100% scrap-based electric arc furnace, a government release informed.
This initiative, undertaken under Tata Steel's flagship retail brand 'Tata Tiscon,' is in line with the company's commitment to a circular economy and a transition towards low-carbon steel production via the Steel Recycling Route, the statement added.
It is anticipated that the project will not only enhance the regional economy but also create opportunities for direct and indirect employment, benefiting around 500 individuals directly and 2000 indirectly.
The Punjab government highlighted that the state plays a pivotal role in the realm of Steel and Alloys, boasting more than 200 steel rolling mills, including key clusters in Mandi Gobindgarh and Ludhiana.
The state is home to major steel units like Vardhaman Special Steels, Aarti Steels, Hero Steels, and JSW Steels. Recognizing the sector's significance, it has been identified as a thrust sector under the Industrial Business Development Policy 2022, it mentioned.
Tata Steel Limited, an eminent player in the steel and alloy sector, is one of the top global steel companies with an annual crude steel capacity of 34 million tons per annum.
CEO & MD Tata Steels TV Narendran expressed his profound gratitude to Chief Minister Bhagwant Singh Mann for ensuring swift and timely clearances for the project. He highlighted the plant will be ready and operational within the coming 18 months, emphasising that Punjab has become a second home to Tata Steel.
Narendran underlined the state's history of pioneering the green revolution in the country and now, the Green Steelmaking Revolution is poised to emerge as yet another milestone.
Vice President (Corporate Services) Tata Steel, Chanakya Chaudhary, also conveyed appreciation to the state government for their efficient handling of the clearances, acknowledging the unwavering support received from local Panchs and Sarpanchs. Chaudhary further disclosed Tata Steel's intention to establish a skill center in the region to provide quality technical training to the youth.
Chairman M&S (Long Products) Tata Steel, Ashish Anupam, elaborated on the project's environmentally conscious approach, aiming to produce 7500 tons of steel without polluting the environment. The plant will significantly contribute to green power generation, as it refrains from coal usage in production, thereby reinforcing its commitment to sustainable, eco-friendly steelmaking practices.