Tata Steel Limited

Critical Materials & Supply Chain▼

Tata Steel Seeks Fresh Government Funding as Port Talbot EAF Delayed

Tata Steel has approached the Department for Business, Innovation, Science and Technology in recent weeks to discuss a new multimillion-pound support package, according to Sky News. The request is in addition to the £500m grant awarded to Tata Steel in 2023 to build an electric arc furnace at Port Talbot, part of a £1.25bn investment in the site that was supposed to have the new EAF operational by early 2028. Delays to the grid connection timetable mean the EAF will now not be up and running until late 2028 or early 2029, and the company has calculated that rising project costs and foregone sales from the delay would significantly escalate its overall cost. The precise sum sought was unclear, though industry sources said it was likely to run to hundreds of millions of pounds, and Business Secretary Jonathan Reynolds has been briefed on the approach. The plan was aimed at preserving 5,000 steelmaking jobs across the UK, although 2,500 roles have already been lost as part of the transition, and the last of Port Talbot's blast furnaces closed in 2024. Tata Steel and the Department for Business both declined to comment.

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Critical Materials & Supply Chain ▼Energy Transition & Power Demand ▼

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Indian Shares Extend Gains As Oil Prices Fall To Pre-war Levels

Indian shares extended gains on Thursday as crude oil prices fell to their lowest levels since before the Iran conflict, easing inflation and growth worries. The benchmark BSE Sensex rose 540 points, or 0.7 percent, to 77,529 in early trade, while the broader NSE Nifty index added 153 points, or 0.6 percent, to 24,175. Top gainers included Trent, Adani Ports, ICICI Bank, UltraTech Cement, Hindustan Unilever, SBI, Mahindra & Mahindra, Maruti Suzuki India and Indigo, which rose between 1 and 3 percent. Tata Steel edged up slightly after infusing Rs 1,625 crore into its wholly owned subsidiary T Steel Holding Pte, and Embassy Developments soared nearly 5 percent after announcing a Rs 1,500 crore investment in premium real estate projects in the Lucknow corridor. IRFC fell about 1 percent as the government decided to sell an additional 1 percent stake in the ongoing Offer for Sale, while Raymond dropped 1 percent after denying reports of an imminent buyout of German aerospace components firm Deharde.

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UN says blended finance must be built with business to unlock trillions

The United Nations argues that blended finance structures must be co-designed with business to close a $4 trillion annual financing gap for the Sustainable Development Goals. An estimated $2.6 trillion of that gap lies in energy and infrastructure, sectors well suited for blended finance, yet current models are too often designed for business rather than with business. The UN Global Compact CFO Coalition for the SDGs has released a new report, Business-Led Blended Finance: A Practical Playbook, to help real-economy companies navigate these structures and engage earlier in project design. Examples such as Tata Steel’s Port Talbot transition, which combined a £500 million government grant with roughly £750 million in corporate investment, and Grupo Modelo’s water security partnership in Mexico show how business involvement can shape risk allocation and scalability. The UN stresses that public capital alone cannot close the development financing gap and that private capital will only move at scale if businesses are recognized as co-architects of investment systems.

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