Shares of Tata Steel declined 2 percent to 202 rupees on the BSE on Monday following reports that the company may delay the start of its 1.25 billion pound low-carbon steel project in the UK by six to eight months. The delay stems from issues securing access to electricity infrastructure. The firm is constructing a 3.2 million tonne electric arc furnace at Port Talbot to support its decarbonisation efforts and replace closed blast furnace operations. Earlier targets aimed for operations by late 2027 or early 2028, but power connection delays have introduced uncertainty. Executive Director Koushik Chatterjee noted ongoing work with the Electricity System Operator and National Grid, which has indicated the connectivity project is behind schedule. The company is consulting stakeholders including the UK government to limit effects and set new timelines. Demolition at the site is complete while equipment fabrication advances. The project has received 500 million pounds in UK government support and aims to reduce site carbon emissions by 90 percent or about 5 million tonnes yearly. A separate fire occurred at the site on June 3 with no injuries reported. Discussions continue to address the timeline slippage.
