Tata Steel

History

Tata Iron and Steel Company (TISCO) was founded by Jamsetji Nusserwanji Tata and formally established by Sir Dorabji Tata 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. During the First World War (1914–1918), the company survived economic challenges by supplying steel for the war effort in India.

In 1920, TISCO incorporated the Tinplate Company of India Ltd (TCIL) as a joint venture with then Burmah Shell to manufacture tinplate. TCIL was later renamed Tata Tinplate.

By 1939, it operated the largest steel plant in the British Empire. The company launched a major modernisation and expansion program in 1951. In 1958, the program was upgraded to 2 million metric tonnes per annum (MTPA). By 1970, the company had around 40,000 employees at Jamshedpur and another 20,000 in neighbouring coal mines.

In 1990, the company expanded and established a subsidiary, Tata Inc., in New York.

In 2005, the company changed its name from TISCO to Tata Steel Ltd.

In 2007, Tata Steel acquired the UK-based steelmaker Corus Group.

In 2016, Tata Steel announced it would sell its UK business, including the Port Talbot Steelworks, due to losses and broader market conditions.

As of November 2021, Tata Steel posted the highest profits among Tata Group companies. In July 2019, the Tata Steel Kalinganagar (TSK) plant was named to the World Economic Forum Global Lighthouse Network, which "identifies and awards the most advanced operational sites in the world".

In May 2025, Tata Steel inaugurated its new facility in Odisha, increasing annual capacity at Kalinga Nagar from 3 million to 8 million tonnes with an investment of ₹27,000 crore.

Nationalization attempts

There have been two unsuccessful attempts to nationalize Tata Steel, one in 1971 and another in 1979.

In 1971, the Prime Minister of India at the time, Indira Gandhi, tried to nationalize the company but failed.

In 1979, Prime Minister Morarji Desai attempted to nationalize the company, spurred by Minister of Industry George Fernandes and Minister of Steel, Mines, and Coal Biju Patnaik. However, union protests prevented these nationalization efforts.

Labour welfare

Tata Steel implemented a range of labour welfare measures during the early 20th century, including an eight-hour workday (since 1912), free medical care (since 1915), school facilities for children of employees (since 1917), paid time off (since 1920), the formation of a provident fund and accident compensation (both in 1920), vocational training (since 1921), maternity benefits (since 1928), profit-sharing bonuses (since 1934), and a retirement gratuity (since 1937).

Facilities

• Tata Steel, Jamshedpur Steel Plant
• Tata Steel, Kalinganagar Steel Plant
• Tata Steel, Meramandali Steel Plant
• Tata Steel, Gamharia Steel Plant
• Tata Metallics, Kharagpur Steel Plant
• Tata Steel, Khopoli Pipe plant
• Tata HMC Division, Haldia Coke Plant

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 a turnover of $1.4 billion and a profit before tax of $47 million. At the time of acquisition, NatSteel had a capacity of about 2 million tons 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 Tata Steel Thailand and is headquartered in Bangkok. On 31 March 2013, it held approximately 68% shares in the acquired company.

Corus in 2006: Tata Steel signed a deal with Anglo-Dutch company, Corus, to buy a 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 (CSN) launched a counteroffer for Corus at 475 pence per share, valuing it at £4.5 billion ($6.04 billion). On 11 December 2006, Tata preemptively raised its offer to 500 pence per share, which was, within hours, superseded by CSN's offer of 515 pence per share, valuing the deal at £4.9 billion ($6.57 billion). The Corus board promptly recommended both the revised offers to its shareholders. On 31 January 2007, Tata Steel won its 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 the 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 in the 56th position. The acquisition made Tata Steel the 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. It was founded in 1968 as a joint venture between Tata Steel and the Japan-based Yodogawa Steels. In 2008, Tayo Rolls became a Tata Steel subsidiary. Tata Steel currently owns 55.24% of Tayo Rolls.

Steel Engineering and Vinausteel in 2007: Tata Steel, through its wholly owned Singapore subsidiary, NatSteel Asia Pte Ltd, acquired a controlling stake in both rolling mill companies located in Vietnam. It acquired a 100% stake in Structure Steel Engineering Pte Ltd and a 70% stake in Vinausteel Ltd. The enterprise value for the acquisition was $41 million. By this acquisition, Tata Steel obtained two rolling mills, a 250,000 tons per year bar/wire rod mill operated by SSE Steel Ltd. and a 180,000 tons per year reinforcing bar mill operated by Vinausteel Ltd.

Bhushan Steel in 2018: Tata Steel acquired the company in 2017–18 when insolvency proceedings were initiated against the former company on 26 July 2017 under IBC. 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. 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%).

Usha Martin (Steel division) in 2019: Tata Sponge Iron Limited, a subsidiary of Tata Steel Limited, acquired the steel business of Usha Martin Limited (UML) in 2019 for . The acquisition involved UML's 1.0 MnTPA specialty steel plant in Jamshedpur that makes alloy-based long products, a functional iron ore mine, a coal mine under development, and captive power plants.

Nilachala Ispat Nigam Ltd. in 2022: Tata Steel, through its wholly owned subsidiary Tata Steel Long Products (TSLP), acquired a controlling stake in NINL. It outbid Jindal Steel and JSW Steel to acquire Odisha-based Neelachal Ispat Nigam Ltd. (NINL) for .

On 25 February 2025, Tata Steel Limited acquired 788.5 crore shares of its Singapore-based subsidiary, T Steel Holdings Pte. Ltd., for $1,238 million (₹10,727 crore), thereby retaining full ownership of the subsidiary.

Joint ventures

In 2006, Tata Steel and Australia's BlueScope Steel launched Tata BlueScope Steel Ltd., a joint venture for the manufacturing of pre-engineered steel products.

In 2014, Tata Steel launched Jamshedpur Continuous Annealing and Processing Company Pvt Ltd. (JCAPCPL), a joint venture with Nippon Steel to produce continuous annealed products intended for the automotive industry. The plant had a capacity of 600,000 tons, and was set up with an investment of . Tata Steel held 51% of the joint venture.

Amalgamation

In 2022, the Tata Group completed the amalgamation of seven metal companies of the group into Tata Steel. The seven metal companies of Tata Group that merged into Tata Steel are Tata Steel Long Products Limited (TSLP), The Tinplate Company of India Limited (TCIL), Tata Metallics 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 is involved in the inception of the Tata Football Academy, TSAF Climbing Academy, Tata Archery Academy, Naval Tata Hockey Academy – Jamshedpur and Odisha Naval Tata Hockey High-Performance Centre, and is also the namesake of the Tata Steel Chess Tournament.

Operations

Tata Steel is headquartered in Mumbai, Maharashtra, India, and has its marketing headquarters at the Tata Centre 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.

Issues in Europe

Since Tata Steel's acquisition of Corus in 2007, Tata Steel's Europe unit faced issues from oversupply in the market, labour unions, inexpensive imports from Chinese steel makers, and pressure from regulators to decarbonize (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 were put on hold due to Brexit. In April 2016, Tata Steel's Long Products Europe Division located in Scunthorpe, England was sold to Greybull Capital LLP. The unit was renamed as British Steel Limited.

In February 2017, the company decided to sell its specialty division to Liberty House Group.

In September 2017, ThyssenKrupp of Germany and Tata Steel announced plans to combine their European steel-making businesses. The deal will restructure the European assets of ThyssenKrupp and Tata Steel as an equal joint venture. The announcement estimated that the company would become Europe's second-largest steelmaker as a result of the merger, and planned for its future headquarters in Amsterdam. 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 proposed to transfer 50% of its stake in Port Talbot Steelworks to the UK Government, in return for capital injections amounting to £900 million.

On 11 September 2024, Tata Steel UK announced that 2,500 jobs would be lost at the Port Talbot steelworks, despite a £500 million taxpayer-backed deal from the UK Government.

In November 2020, SSAB of Sweden announced its intention to purchase Tata Steel's unit in IJmuiden, Netherlands. However, in 2021, SSAB backed out, 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 it would find alternative sources of coal for its steel production plants in the UK and the Netherlands after European nations stopped doing business with Russia in response to its invasion of Ukraine.

Issues in Southeast Asia

In January 2019, citing debt issues and consistent losses, Tata Steel decided to sell a 70 percent stake in its S.E. Asia business (NatSteel and Tata Steel Thailand) to China's state-owned HBIS Group for $327 million. However, the deal eventually fell through, with both companies 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 Southeast Asian businesses, citing improvement in financials, including a reduction in total debt and an increase in the cash flow. This was confirmed through its regulatory filing, where Tata Steel reclassified its S.E. Asian assets from 'held for sale' to 'continuing operations'.

In October 2021, Tata Steel announced the sale of its subsidiary, Natsteel Holdings Pte. Ltd to Top Tip Holding Pte, a Singapore-based steel and iron ore trading company. The deal was valued at $172 million (₹1,275 crore) and included two Singapore facilities and one Malaysian facility excluding the wire business in Thailand.

Shareholders

As of 29 September 2023, the Tata Group held 33.90% shares in Tata Steel. 9.44% of its shares are held by private shareholders. Life Insurance Corporation of India is the largest non-promoter shareholder in the company with 10.89% shareholding.

The equity shares of Tata Steel are listed on the Bombay Stock Exchange, where it is a constituent of the BSE SENSEX index, and the National Stock Exchange of India, where it is a constituent of the S&P CNX Nifty, the Global Depository Receipts (GDRs) are listed on the London Stock Exchange and the Luxembourg Stock Exchange.

Sub-Brands of Tata Steel

The following is a list of all the sub-brands which Tata Steel has introduced to the market.

1. Automotive Steels
2. Galvano
3. Tata Agrico
4. Tata Astrum
5. Tata Bearings
6. Tata Ferromag
7. IBMD
8. Tata Pipes
9. Tata Precision Tubes
10. Tata Shaktee
11. Tata Steelium
12. Tata Structura
13. Tata Tiscon
14. Tata Wiron
15. Tata KOSH
16. Tata eFee
17. Tata Ductura

Subsidiaries

Mjunction

Mjunction is a B2B e-commerce joint venture between Tata Steel and SAIL, established in 2001, that operates an online marketplace and e-auction services for industrial procurement, including steel.

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.

Tata Tinplate

The Tinplate Company of India Limited (TCIL) is a subsidiary of Tata Steel. Founded in 1920, TCIL is India's oldest and current largest tinplate manufacturer. The company is described as having "pioneered the tinplate industry in India". TCIL has a 70% market share in India and exports a fourth of its products outside India.

In January 1920, the Burmah Oil and The Tata Iron & Steel Company (TISCO) jointly incorporated The Tinplate Company of India Limited (TCIL) to cater to the demand for tinplate that arose following World War I. Burmah contributed two-thirds of the startup capital and Tata the remainder. Burmah required tinplate for the cans used to hold the kerosene it produced.

By November 1921, structural steel for the plant and machinery had been imported from the US and UK, and the plant was established at Golmuri, Jamshedpur, near the Tata Steelworks. The design was based on an Indiana rolling plant. In December 1922, the first hot dip tinning plant started operations. By 1924, a total of six mills were in production, and the company was producing almost 40 percent of India's tinplate needs. In 1926, the level of production exceeded the country's imports for the first time. The company's main competition was from tinplate imported from South Wales. In its early years, the company relied to a large extent on European 'covenanted' labor for supervisory and skilled roles, but this lessened over time as the skills of Indian workers developed. Just under 3,000 workers were employed in the late 1920s and early 1930s.

With the outbreak of World War II, TCIL diversified into the manufacturing of untinned black plates used in Jettison tanks for the Royal Air Force. Also, TCIL took over the processing of steel from the sheet mills of Tata Steel to augment production.

TCIL agreed with Wean United Canada to switch to the Electrolytic Tinning Process. In 1973, an Electrolytic Tinning Line was commissioned with a capacity of 90,000 tons per annum to produce tinplate and tin-free steel. In 1996, TCIL established its first Cold Rolling Mill Complex with a capacity of 110,000 tons per annum, as part of a backward integration to reduce dependency on imported uncoated sheet steel coils, known as tin mill black plate (TMBP). In 2005, a printing and lacquering line was introduced as part of a forward integration to reduce supply chain inefficiencies. In 2007, mill capacity was more than doubled to 379,000 tons by the commissioning of a second Tinning Line; a second Cold Rolling Mill facility was added a year later. Production and sales reached 360,000 tons in 2018–19.

In 2012, Tata Steel increased its shareholding in TCIL to 73.44% which currently stands at 74.96%.

Through volumes, TCIL holds 70% market share in India and exports 25% of the production to Southeast Asia, Europe, and the Middle East.

In August 2021, it announced its expansion plans, with an additional capacity of 300,000 tons per annum.

In September 2022, it was announced that the company would be merged into Tata Steel.

Social and Infrastructure Impact

Tata Steel's Industrial By‑Product Management Division has supplied 20 kilotons of blast‑furnace slag for the widening of NH‑53 in Odisha, promoting sustainable infrastructure development.

Tata Steel Utility & Infrastructure Services Ltd honoured sanitation workers after Jamshedpur ranked as the third cleanest city in India under Swachh Survekshan rankings.

Controversies

• Environment protection at Dhamra Port: The Dhamra Port, a joint venture between Larsen & Toubro and Tata Steel near Dhamra river in Bhadrak district of Odisha has received criticism from groups such as Greenpeace, Wildlife Protection Society of India and the National Fishworkers Forum for causing environmental harm to the local ecology. The port is being built within five kilometers of the Bhitarkanika National Park, a Ramsar wetland of international importance, home to a diversity of mangrove species, saltwater crocodiles, and avian species. The port will also be approximately 15 km from the turtle nesting ground of Gahirmatha Beach, and turtles are also found in the area immediately adjoining the port site. Aside from potential impacts on the nesting and feeding grounds of the turtles, the mudflats of the port site itself are breeding grounds for horseshoe crabs 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 the 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.

In media

Documentaries

• Tata Steel: Seventy Five Years of the Indian Steel Industry, directed by Shyam Benegal in 1983.
• Tata Steel: Spirit of Steel, directed by Zafar Hai in 2007.
• Crucible of Fire, directed by Stephen Alter and narrated by Victor Banerjee in 2008.

References

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