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Tata Steel talks decarbonisation plans with Dutch Govt

2024-06-10

Tata Steel has announced on-going discussions with the Dutch government regarding a plan to reduce carbon emissions from its plant in the Netherlands. This follows a directive from the Dutch Parliament for the government to negotiate support terms.

The Dutch government is reportedly considering funding up to ?3 billion to facilitate the green transition of Tata Steel?s IJmuiden plant, which has faced health and pollution concerns.

Tata Steel confirmed these talks in a filing to the Indian stock exchange. In March, the Dutch Parliament urged the government to negotiate the decarbonisation support terms for Tata Steel Nederland. The negotiation process, requiring thorough investigation, evaluation, and discussions, is expected to take several months. Any final agreement will need approval from both the Dutch Parliament and Tata Steel's board.

Tata Steel stated that it is not ready to draw any conclusions and declined to provide further comments. In October 2021, Tata Steel reorganised, decentralising its UK and Netherlands businesses into separate entities. The IJmuiden plant, with a capacity of seven million tonnes per annum, is one of the largest in the world. Tata Steel aims to completely eradicate CO2 emissions from its European operations by 2050 and has a strategic partnership with the Dutch government to meet emissions and health requirements for the decarbonisation project.

(Source: Manufacturing Today India)