Tata Steel Limited is an Indian
multinational steel
Steel is an alloy made up of iron with added carbon to improve its strength and fracture resistance compared to other forms of iron. Many other elements may be present or added. Stainless steels that are corrosion- and oxidation-resistant ty ...
-making company, based in
Jamshedpur,
Jharkhand
Jharkhand (; ; ) is a state in eastern India. The state shares its border with the states of West Bengal to the east, Chhattisgarh to the west, Uttar Pradesh to the northwest, Bihar to the north and Odisha to the south. It has an area of . I ...
and headquartered in
Mumbai
Mumbai (, ; also known as Bombay — the official name until 1995) is the capital city of the Indian state of Maharashtra and the ''de facto'' financial centre of India. According to the United Nations, as of 2018, Mumbai is the second- ...
,
Maharashtra
Maharashtra (; , abbr. MH or Maha) is a states and union territories of India, state in the western India, western peninsular region of India occupying a substantial portion of the Deccan Plateau. Maharashtra is the List of states and union te ...
. It is a part of the
Tata Group
The Tata Group () is an Indian multinational conglomerate headquartered in Mumbai. Established in 1868, it is India's largest conglomerate, with products and services in over 150 countries, and operations in 100 countries across six continents ...
.
Formerly known as Tata Iron and Steel Company Limited (TISCO), Tata Steel is among the top
steel producing companies in the world with an annual crude steel capacity of 34 million tonnes. It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world. The group (excluding SEA operations) recorded a consolidated turnover of US$19.7 billion in the financial year ending 31 March 2020. It is the second largest steel company in India (measured by domestic production) with an annual capacity of 13 million tonnes after
Steel Authority of India Ltd. (SAIL). TATA Steel, along with SAIL and
Jindal Steel and Power
Jindal Steel and Power Limited (JSPL) is an Indian steel company based in New Delhi. JSPL is a part of OP Jindal Group, and a leading player in steel, mining, and infrastructure in India. The company produces steel through backward integration ...
, are the only 3 Indian steel companies that have captive iron-ore mines, which gives the three companies price advantages.
The Key Managerial Personnel (KMP) at Tata Steel Limited India are Koushik Chatterjee as CFO (KMP) and Parvatheesam Kanchinadham as Company Secretary. Koushik Chatterjee, Mallika Srinivasan, Chandrasekaran Natarajan and 7 other members are presently associated as directors.
Tata Steel operates in 26 countries with key operations in India, Netherlands and the United Kingdom, and employs around 80,500 people.
Its largest plant (10 MTPA capacity) is located in
Jamshedpur,
Jharkhand
Jharkhand (; ; ) is a state in eastern India. The state shares its border with the states of West Bengal to the east, Chhattisgarh to the west, Uttar Pradesh to the northwest, Bihar to the north and Odisha to the south. It has an area of . I ...
. In 2007, Tata Steel acquired the UK-based steel maker
Corus.
It was ranked 486th in the 2014
Fortune Global 500
The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by ''Fortune'' magazine.
Methodology
Until 1989, it listed onl ...
ranking of the world's biggest corporations.
It was the seventh most valuable Indian brand of 2013 according to Brand Finance.
In July 2019 Tata Steel
Kalinganagar
Kalinganagar is a planned industrial and modern town in Jajpur district of coastal Odisha, India. It is rich in iron ore. Because of high global demand for steel, Kalinganagar is becoming a major global hub in steel, power and ancillary prod ...
(TSK) was included in the list of the
World Economic Forum
The World Economic Forum (WEF) is an international non-governmental and lobbying organisation based in Cologny, canton of Geneva, Switzerland. It was founded on 24 January 1971 by German engineer and economist Klaus Schwab. The foundation, ...
's (WEF's) Global Lighthouse Network.
Tata Steel has been recognised amongst India's Best Workplaces in Manufacturing 2022 by Great Place to Work. This recognition has been received for the fifth time, highlights the company's sustained focus on fostering a culture of high-trust, integrity, growth, and care for the employees. Tata Steel has also been inclusive towards its
LGBTQ
' is an initialism that stands for lesbian, gay, bisexual, and transgender. In use since the 1990s, the initialism, as well as some of its common variants, functions as an umbrella term for sexuality and gender identity.
The LGBT term is ...
employees and also provides health insurance benefits for partners of its LGBTQ employees under the new HR policy.
History
![Tata Steel at Night](https://upload.wikimedia.org/wikipedia/commons/6/6e/Tata_Steel_at_Night.jpg)
Tata Iron and Steel Company (TISCO) was founded by
Jamsetji Nusserwanji Tata and established by
Sir Dorabji Tata
Sir Dorabji Tata (27 August 1859 – 3 June 1932) was an Indian businessman of the British Raj, and a key figure in the history and development of the Tata Group. He was knighted in 1910 for his contributions to industry in British India. ...
on 26 August 1907. TISCO started pig iron production in 1911 and began producing steel in 1912 as a branch of Jamsetji's
Tata Group
The Tata Group () is an Indian multinational conglomerate headquartered in Mumbai. Established in 1868, it is India's largest conglomerate, with products and services in over 150 countries, and operations in 100 countries across six continents ...
.
The first steel ingot was manufactured on 16 February 1912. During the First World War (1914–1918), the company made rapid progress.
In 1920, The Tata Iron & Steel Company also incorporated
The Tinplate Company of India Ltd (TCIL), as a joint venture with then
Burmah Shell
The Burmah Oil Company was a leading British oil company which was once a constituent of the FTSE 100 Index. In 1966, Castrol was acquired by Burmah, which was renamed "Burmah-Castrol". BP Amoco (now BP) purchased the company in 2000.
Histor ...
to manufacture Tinplate. TCIL is now Tata Tinplate and holds 70% market share in India.
By 1939, it operated the largest steel plant in the British Empire. The company launched a major modernisation and expansion program in 1951. Later, in 1958, the program was upgraded to 2 million metric tonnes per annum (MTPA) project.
By 1970, the company employed around 40,000 people at Jamshedpur, and a further 20,000 in the neighbouring coal mines.
In November 2021, Tata Steel was the most profitable company in the
Tata Group
The Tata Group () is an Indian multinational conglomerate headquartered in Mumbai. Established in 1868, it is India's largest conglomerate, with products and services in over 150 countries, and operations in 100 countries across six continents ...
.
Nationalisation attempts
There were two attempts one in 1971 and another in 1979, nationalise the company. Both were unsuccessful attempts. In 1971 Indira Gandhi regime tried to nationalise the company, but failed. In 1979 Janata Party regime (1977–79), wanted to nationalise TISCO (now Tata Steel). Then Minister for Industries George Fernandes, at the instigation of
Biju Patnaik
Bijayananda Patnaik (5 March 1916 – 17 April 1997) was an Indian politician, aviator and businessman. As politician, he served twice as the Chief Minister of the State of Odisha.
Early life
His parents lived in Bellaguntha, Ganjam dist ...
, Minister for Steel threatened nationalisation, but due to the unions protests the move failed.
In 1990, the company began to expand, and established its subsidiary, Tata Inc., in New York. The company changed its name from TISCO to Tata Steel Ltd. in 2005.
Expansions
Acquisitions
NatSteel in 2004: Tata Steel agreed to acquire the steel making operations of the Singapore-based NatSteel for $486.4 million in cash.
NatSteel had ended 2003 with turnover of $1.4 billion and a profit before tax of $47 million.
The steel businesses of NatSteel would be run by the company through a wholly owned subsidiary called Natsteel Asia Pte Ltd.
The acquisition was completed in February 2005.
At the time of acquisition, NatSteel had a capacity of about 2 million tonnes per annum of finished steel.
Millennium Steel in 2005: Tata Steel acquired a majority stake in the Thailand-based steelmaker Millennium Steel for a total cost of $130 million. It paid US$73 million to Siam Cement for a 40% stake and offered to pay 1.13 baht per share for another 25% of the shares of other shareholders. Millennium Steel has now been renamed to Tata Steel Thailand and is headquartered in
Bangkok
Bangkok, officially known in Thai language, Thai as Krung Thep Maha Nakhon and colloquially as Krung Thep, is the capital and most populous city of Thailand. The city occupies in the Chao Phraya River delta in central Thailand and has an estima ...
. On 31 March 2013, it held approx. 68% shares in the acquired company.
Corus in 2006: Tata Steel signed a deal with Anglo-Dutch company, Corus to buy 100% stake at £4.3 billion ($8.1 billion) at 455 pence per share.
On 19 November 2006, the Brazilian steel company
Companhia Siderúrgica Nacional
Companhia Siderúrgica Nacional (CSN) is the largest fully integrated steel producer in Brazil and one of the largest in Latin America in terms of crude steel production. (CSN) launched a counter offer for Corus at 475 pence per share, valuing it at £4.5 billion. On 11 December 2006, Tata pre-emptively upped its offer to 500 pence per share, which was within hours trumped by CSN's offer of 515 pence per share, valuing the deal at £4.9 billion. The Corus board promptly recommended both the revised offers to its shareholders. On 31 January 2007, Tata Steel won their bid for Corus after offering 608 pence per share, valuing Corus at £6.7 billion ($12 billion).
In 2005, Corus employed around 47,300 people worldwide, including 24,000 in the UK.
At the time of acquisition, Corus was four times larger than Tata Steel, in terms of annual steel production. Corus was the world's 9th largest producer of Steel, whereas Tata Steel was at 56th position. The acquisition made Tata Steel world's 5th largest producer of Steel.
Tayo Rolls in 2008, formerly Tata-Yodogawa Limited is a metal fabrication and processing company headquartered in
Jamshedpur,
India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
. It was founded in 1968 as a joint venture between Tata Steel and the Japan-based Yodogawa Steels. In 2008, the company made the rights issue which was subscribed for only about 50% of its total value – Rs 60-crore. Due to undersubscription, the promoters acquired them, as result Tayo Rolls became a Tata Steel Subsidiary. Tata Steel owns 55.24% of the Tayo Rolls.
Steel Engineering and Vinausteel in 2007: Tata Steel through its wholly owned Singapore subsidiary, NatSteel Asia Pte Ltd, acquired controlling stake in both rolling mill companies located in Vietnam: Structure Steel Engineering Pte Ltd (100% stake) and Vinausteel Ltd (70% stake). The enterprise value for the acquisition was $41 million. With this acquisition, Tata Steel got hold of two rolling mills, a 250,000 tonnes per year bar/wire rod mill operated by SSE Steel Ltd. and a 180,000 tonnes per year reinforcing bar mill operated by Vinausteel Ltd.
Bhushan Steel in 2018: Tata Steel acquired the entire company in 2017–18, when Insolvency proceedings were initiated against the former company on 26 July 2017 under
IBC IBC is an initialism that can stand for:
Broadcasting
*Intercontinental Broadcasting Corporation, Channel 13, Philippines
* International Beacon Project, Worldwide network of radio propagation beacons
*International Broadcast Centre
*International ...
. Tata steel emerged as the highest bidder and took over the company through its wholly owned subsidiary Bamnipal Steel Ltd. The company was renamed as
Tata Steel BSL
Tata Steel BSL Limited, formerly known as Bhushan Steel Limited, was the largest manufacturer of auto-grade steel in India. Tata Steel BSL Limited, with an amount of debt in proportion to its equity (0.5 times more). The company's consolidated ...
. Later in 2021 Tata Steel amalgamated Bamnipal Steel Ltd. and Tata Steel BSL thereby the latter became a direct subsidiary of Tata Steel (72.65%).
Nilachala Ispat Nigam Ltd in 2022: Tata Steel through its wholly owned subsidiary, Tata Steel Long Products (TSLP), acquired controlling stake in NINL. It beat
Jindal Steel
Jindal Steel and Power Limited (JSPL) is an Indian steel company based in New Delhi. JSPL is a part of OP Jindal Group, and a leading player in steel, mining, and infrastructure in India. The company produces steel through backward integration ...
and
JSW Steel
JSW Steel Limited is an Indian multinational steel producer based in Mumbai and is a flagship company of the JSW Group. After the merger of ISPAT Steel and Jindal Vijayanagar Steel Limited, JSW Steel became India's second largest private sect ...
to acquire
Odisha
Odisha (English: , ), formerly Orissa ( the official name until 2011), is an Indian state located in Eastern India. It is the 8th largest state by area, and the 11th largest by population. The state has the third largest population of ...
-based Neelachal Ispat Nigam Ltd (NINL) for .
Joint Ventures
In 2006, Tata Steel and
BlueScope
BlueScope Steel Limited is an Australian flat product steel producer that was spun-off from BHP Billiton in 2002.
History
BlueScope was formed when BHP Billiton spun-off its steel assets on 15 July 2002 as BHP Steel. It was renamed BlueSco ...
Steel launched Tata BlueScope Steel Ltd, a joint venture for the manufacturing pre-engineered steel products.
In 2014, Tata Steel launched Jamshedpur Continuous Annealing and Processing Company Pvt Ltd (JCAPCPL), a joint venture with
Nippon Steel
was formed in 2012 by the merger of the old Nippon Steel and Sumitomo Metal. was established in 1970 by the merger of Fuji Iron & Steel and Yawata Iron & Steel. Nippon Steel is the world's third largest steel producer by volume as of 2019.
...
to produce continuous annealed products intended for the automotive industry. The plant had a capacity of 600,000 tonnes and was setup with an investment of 2,750 Crores. Tata Steel held 51% of the joint venture.
Amalgamation
In 2022, Tata group moved for the amalgamation of seven metal companies of the group into Tata Steel. Seven metal companies of Tata group that will be merged with Tata Steel are Tata Steel Long Products Limited (TSLP), The Tinplate Company of India Limited (TCIL), Tata Metaliks Limited (TML), TRF Limited, The Indian Steel & Wire Products Limited (ISWPL), Tata Steel Mining Limited (TSML) and S & T Mining Company Limited.
Sports
Tata Steel have traditionally played a key role in development of sports in India. They have been involved in the inception of Tata Football Academy, TSAF Climbing Academy, Tata Archery Academy, Naval Tata Hockey Academy - Jamshedpur and
Odisha Naval Tata Hockey High Performance Centre
Odisha Naval Tata Hockey High Performance Centre (ONTH-HPC) is a professional field hockey institute located at Kalinga Stadium in Bhubaneswar, Odisha, India. It was launched on 13 August 2019 after Government of Odisha, Tata Steel & Tata Trusts ...
.
Operations
Tata Steel is headquartered in Mumbai, Maharashtra, India and has its marketing headquarters at the
Tata Centre
Tata Centre is a high-rise located in Kolkata, India. It is located on Chowringhee Road in the central business district of the city. The building houses most of the Tata Group's city operations.
History
Tata Centre is one of the tallest bu ...
in
Kolkata, West Bengal. It has a presence in around 50 countries with manufacturing operations in 26 countries including: India, Malaysia, Vietnam, Thailand, UAE, Ivory Coast, Mozambique, South Africa, Australia, United Kingdom, The Netherlands, France and Canada.
Tata Steel primarily serves customers in the automotive, construction, consumer goods, engineering, packaging, lifting and excavating, energy and power, aerospace, shipbuilding, rail and defence and security sectors.
Upcoming plans
Tata Steel has set a target of achieving an annual production capacity of 100 million tons by 2015; it is planning for capacity expansion to be balanced roughly 50:50 between greenfield developments and acquisitions.
Overseas acquisitions have already added an additional 21.4 million tonnes of capacity, including Corus (18.2 million tonnes), NatSteel (2 million tonnes) and Millennium Steel (1.2 million tonnes). Tata plans to add another 29 million tonnes of capacity through acquisitions.
Major greenfield steel plant expansion projects planned by Tata Steel include:
# A 6 million tonne per annum capacity plant in Kalinganagar, Odisha, India;
# An expansion of the capacity of its plant in Jharkhand, India from 6.8 to 10 million tonnes per annum;
# A 5 million tonne per annum capacity plant in Chhattisgarh, India (Tata Steel signed a memorandum of understanding with the Chhattisgarh government in 2005; the plant is facing strong protest from tribal people);
# A 3 million tonne per annum capacity plant in Iran;
# A 2.4 million tonne per annum capacity plant in Bangladesh;
# A 10.5 million tonne per annum capacity plant in Vietnam (feasibility studies are underway); and
# A 6 million tonne per annum capacity plant in Haveri,
Karnataka
Karnataka (; ISO: , , also known as Karunāḍu) is a state in the southwestern region of India. It was formed on 1 November 1956, with the passage of the States Reorganisation Act. Originally known as Mysore State , it was renamed ''Karnat ...
.
# Acquisition of Neelachal Ispat Nigam Ltd in
Odisha
Odisha (English: , ), formerly Orissa ( the official name until 2011), is an Indian state located in Eastern India. It is the 8th largest state by area, and the 11th largest by population. The state has the third largest population of ...
,
India
India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
Issues with Europe business
Since Tata Steel's Corus acquisition in 2007, Tata Steel's Europe unit faced issues from oversupply in the market, labor unions, inexpensive imports from Chinese steel makers, and pressure from regulators for decarbonisation (green taxes) which forced Tata Steel to consolidate its businesses in Europe.
In 2015, Tata Steel was looking to sell its facilities in Port Talbot, Hartlepool, Rotherham and Stocksbridge, which was put on hold due to
Brexit
Brexit (; a portmanteau of "British exit") was the withdrawal of the United Kingdom (UK) from the European Union (EU) at 23:00 GMT on 31 January 2020 (00:00 1 February 2020 CET).The UK also left the European Atomic Energy Community (EAEC or ...
. In April 2016, Tata Steel's Long Products Europe Division located in
Scunthorpe
Scunthorpe () is an industrial town and unparished area in the unitary authority of North Lincolnshire in Lincolnshire, England of which it is the main administrative centre. Scunthorpe had an estimated total population of 82,334 in 2016. A pre ...
, England was sold to Greybull Capital LLP. The unit was renamed as
British Steel Limited
British Steel Limited is a long steel products business founded in 2016 with assets acquired from Tata Steel Europe by Greybull Capital, then acquired by Jingye Group in 2020. The primary steel production site is Scunthorpe Steelworks, wit ...
.
In February 2017, the company decided to sell its specialty division to
Liberty House Group
Liberty Steel Group Holdings UK Ltd (LHG), which is also referred to as Liberty House or Liberty House UK, is a British industrial and metals company founded in the United Kingdom in 1992 by industrialist Sanjeev Gupta. It is headquartered in L ...
.
In September 2017,
ThyssenKrupp
ThyssenKrupp AG (, ; stylized as thyssenkrupp) is a German industrial engineering and steel production multinational conglomerate. It is the result of the 1999 merger of Thyssen AG and Krupp and has its operational headquarters in Duisburg a ...
of Germany and Tata Steel announced plans to combine their European steel-making businesses. The deal will structure the European assets as Thyssenkrupp Tata Steel, an equal joint venture. The announcement estimated that the company would be Europe's second-largest steelmaker, and listed future headquarters in
Amsterdam
Amsterdam ( , , , lit. ''The Dam on the River Amstel'') is the Capital of the Netherlands, capital and Municipalities of the Netherlands, most populous city of the Netherlands, with The Hague being the seat of government. It has a population ...
.
However, in 2019, antitrust regulators of EU refused to accept deals citing reduction in competition. In 2019 Tata Steel decided to sell some of its non-core business units in UK.
In June 2020, the company requested £500 million in UK government support. Later in July media houses reported that the company has proposed to give away 50% of its stake in Port Talbot Steelworks to UK Government in return for capital injections amounting to £900 million.
In November 2020,
SSAB
SSAB AB, earlier ''Svenskt Stål AB'' (English: Swedish Steel), () is a Swedish company, formed in 1978, that specialises in processing raw material to produce steel. The largest shareholders are Aktiebolag Industrivärden and the Government of ...
of Sweden announced its intention to buy Tata Steel's unit in
IJmuiden, Netherlands. However, in 2021, SSAB backed out of citing technical and cost issues involved with the deal.
In October 2021, Tata Steel Europe officially split its businesses into two independent entities Tata Steel Netherlands and Tata Steel UK.
In April 2022, Tata Steel announced that they had to find alternative sources of coal for their steel production plants in the UK and Netherlands after European nations stopped doing business with Russia because of its invasion of Ukraine.
Issues with South East Asia Business
In January 2019, citing debt issues and consistent losses Tata Steel, decided to sell 70 per cent stake its S.E. Asia business (NatSteel and Tata Steel Thailand) to China's state-owned
HBIS Group for $327 million. But the deal fell through citing regulatory issues.
Later in 2019, Tata Group signed a memorandum of understanding with the Private Equity firm, Synergy Metals and Mining Fund for divestment of 70% shareholding in Tata Steel (Thailand) Public Company Ltd. (excluding NatSteel)
In 2021, Tata Steel decided against divesting the South East Asian businesses citing improvement in financials, including reduction in total debt and increase in the cash flow. This was confirmed through its regulatory filing where Tata Steel reclassified its S.E. Asians assets from 'held for sale' to 'continuing operations'.
In Oct 2021, Tata Steel announced the sale of its subsidiary Natsteel Holdings Pte. Ltd to TopTip Holding Pte, a Singapore-based steel and iron ore trading company. The deal was valued at $172 million (₹1,275 crore). The deal included two Singapore facilities and one Malaysian facility excluding the wire business in Thailand.
Shareholding
As on 31 March 2018, Tata Group held 31.64% shares in Tata Steel. Over 1 million individual shareholders hold approx. 21% of its shares.
Life Insurance Corporation of India
Life Insurance Corporation of India (LIC) is an Indian central public sector undertaking headquartered in Mumbai, Maharashtra, India. It is under the ownership of Ministry of Finance, Government of India.
The Life Insurance Corporation of ...
is the largest non-promoter shareholder in the company with 14.88% shareholding.
The equity shares of Tata Steel are listed on the
Bombay Stock Exchange
BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange i ...
, where it is a constituent of the
BSE SENSEX
The BSE SENSEX (also known as the S&P Bombay Stock Exchange Sensitive Index or simply SENSEX) is a free-float market-weighted stock market index of 30 well-established and financially sound companies listed on the Bombay Stock Exchange. The 30 ...
index, and the
National Stock Exchange of India
National Stock Exchange of India Limited (NSE) is the leading stock exchange under the ownership of various group of domestic and global financial institutions, public and privately owned entities and individuals. It is located in Mumbai, Mah ...
, where it is a constituent of the
S&P CNX Nifty, the
Global Depository Receipt
A global depository receipt (GDR and sometimes spelled ''depositary'') is a general name for a depositary receipt where a certificate issued by a depository bank, which purchases shares of foreign companies, creates a security on a local excha ...
s (GDRs) are listed on the
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...
and the
Luxembourg Stock Exchange
The Luxembourg Stock Exchange, LuxSE (french: Bourse de Luxembourg) is based in Luxembourg City at 35A boulevard Joseph II.
The chairman of the board is Alain Kinsch and the chief executive officer is Julie Becker.
The exchange has pre-opening ...
.
Tata Steel Thailand
Tata Steel's subsidiary Tata Steel (Thailand) Public Company Limited (), (formerly Millennium Steel Public Company Limited) is listed on the
Stock Exchange of Thailand. Tata Steel Limited directly holds 67.90% through its investment arm T S Global Holdings Pte. Ltd.
Carbon footprint
Tata Steel Group reported Total
CO2e emissions (Direct + Indirect) for 31 March 2021 at 25,790 Kt (-1,820 /-6.6% y-o-y).
[Alt URL]
/ref> There is little evidence of a consistent declining trend as yet.
Controversies
* Environment protection at Dhamra Port: The Dhamra Port
The Dhamra Port is a port in Bhadrak district, Odisha, India, on the shore of the Bay of Bengal about seven kilometres from the old port of Dhamra. The agreement to develop the port was signed in April 1998. The Dhamra Port Company Limited (DP ...
, a joint venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and economic risk, risks, and shared governance. Companies typically pursue joint ventures for one of four rea ...
between Larsen & Toubro
Larsen & Toubro Ltd, commonly known as L&T, is an Indian multinational conglomerate company, with business interests in engineering, construction, manufacturing, technology, information technology and financial services, headquartered in Mumba ...
and Tata Steel near Dhamra river in Bhadrak district of Odisha
Odisha (English: , ), formerly Orissa ( the official name until 2011), is an Indian state located in Eastern India. It is the 8th largest state by area, and the 11th largest by population. The state has the third largest population of ...
, has come in for criticism from groups such as Greenpeace
Greenpeace is an independent global campaigning network, founded in Canada in 1971 by Irving Stowe and Dorothy Stowe, immigrant environmental activists from the United States. Greenpeace states its goal is to "ensure the ability of the Earth t ...
, Wildlife Protection Society of India
The Wildlife Protection Society of India (WPSI) was founded in 1994 by Belinda Wright, its Executive Director, who was an award-winning wildlife photographer and filmmaker till she took up the cause of conservation. From its inception, WPSI's ...
and the Orissa Traditional Fishworkers' Union for environment protection. The port is being built within five kilometers of the Bhitarkanika National Park
Bhitarkanika National Park is a large national park in northeast Kendrapara district in Odisha in eastern India. It was designated on 16 September 1998 and obtained the status of a Ramsar site on 19 August 2002. The area is also been designate ...
, a Ramsar wetland of international importance
This is the list of Wetlands of International Importance as defined by the Ramsar Convention for the conservation movement, conservation and sustainable use of wetlands, recognizing the fundamental ecological functions of wetlands and their econom ...
, home to an impressive diversity of mangrove
A mangrove is a shrub or tree that grows in coastal saline water, saline or brackish water. The term is also used for tropical coastal vegetation consisting of such species. Mangroves are taxonomically diverse, as a result of convergent evoluti ...
species, saltwater crocodile
The saltwater crocodile (''Crocodylus porosus'') is a crocodilian native to saltwater habitats and brackish wetlands from India's east coast across Southeast Asia and the Sundaic region to northern Australia and Micronesia. It has been list ...
s and an array of avian species. The port will also be approximately 15 km. from the turtle nesting of Gahirmatha Beach
Gahirmatha Beach () is a beach in Kendrapara district of the Indian state of Odisha. The beach separates the Bhitarkanika Mangroves from the Bay of Bengal
The Bay of Bengal is the northeastern part of the Indian Ocean, bounded on the west and ...
, and turtles are also found immediately adjoining the port site. Aside from potential impacts on nesting and feeding grounds of the turtles, the mudflats of the port site itself are breeding grounds for horseshoe crab
Horseshoe crabs are marine and brackish water arthropods of the family Limulidae and the only living members of the order Xiphosura. Despite their name, they are not true crabs or crustaceans: they are chelicerates, most closely related to ar ...
s as well as rare species of reptiles and amphibians. The port began commercial production in May 2011. In response, the company website informs that it has been working with International Union for Conservation of Nature (IUCN) for guidance and assistance in the implementation of environmental standards and designing mitigation measures for potential hazards during construction and operation of the Port.
* Job cuts in Europe: In 2019 citing surplus capacity and high costs the company announced plans to cut 3,000 jobs in Europe, including UK (Port Talbot Steelworks
Port Talbot Steelworks is an integrated steel production plant in Port Talbot, West Glamorgan, Wales, capable of producing nearly 5 million tonnes of steel slab per annum. This makes it the larger of the two major steel plants in the UK and one o ...
), Netherlands and other units. The decision was made after the failed attempt to consolidate with German Steelmaker Thyssenkrupp.
See also
* List of steel producers
This is a list of the largest steel-producing companies in the world mostly based on the list by the World Steel Association. This list ranks steelmakers by volume of steel production in millions of tonnes and includes all steelmakers with product ...
* List of companies of India
India is a country in South Asia. It is the seventh-largest country by area, the second-most populous country (with over 1.2 billion people), and the most populous democracy in the world.
In 2019, the Indian economy was the world's fifth ...
* List of largest companies by revenue
* List of corporations by market capitalization
The following is a list of publicly traded companies having the greatest market capitalization. In media they are described as being the most valuable companies, a reference to their market value.
Market capitalization is calculated from the shar ...
* Make in India
Make in India is an initiative by the Government of India to create and encourage companies to develop, manufacture and assemble products made in India and incentivize dedicated investments into manufacturing. The policy approach was to crea ...
* Forbes Global 2000
* Fortune India 500
The ''Fortune India'' 500 is a ranking of the top 500 corporations in India compiled on the basis of latest sales and gross revenue figures. The list is published annually by ''Fortune'' magazine. ''Fortune India'' is ''Fortune'' sixth internatio ...
* Tata Group
The Tata Group () is an Indian multinational conglomerate headquartered in Mumbai. Established in 1868, it is India's largest conglomerate, with products and services in over 150 countries, and operations in 100 countries across six continents ...
* Russi Mody
References
External links
*
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