New -delhi, September 29 (PTI) Tata Steel, said on Monday that the Dutch government has proposed to 2 billion euros for a unbundling project at the Ijmuiden plant. The homemade steel maker and its European arm, Tata Steel Netherlands (TSN), signed a joint intention with the government of the Netherlands and the province of North Holland. “In terms of extensive discussions, the government of the Netherlands and the Province of North Holland, Tata Steel and TSN agreed a proposed framework for the integrated project in TSN and signed a non-binding Jloi for the first phase of transition to low CO2 steel production and to improve a healthy living environment around the Ijmuiden site. The Dutch government intends to support up to 2 billion euros. In addition, TSN made an application to the EU innovation fund for 0.3 billion euros. TSN has not yet completed the full engineering of the integrated project and therefore does not complete the total spending, the company said, adding that the remaining amount is expected to be funded by a combination of the cash generated and contributed by Tata Steel Netherlands, project financing debt and financing that Tata steal obtained during the project spending. TV Narendran, CEO and Managing Director, Tata Steel and Chairman of the Supervisory Council of Tata Steel Netherlands said: ‘We want to thank Hermans, her colleagues in the cabinet and the team of the Dutch government and the province of the North Holland, who have been constructive and painful in the last 2 years, to create this first step in our journey to create a long time to create a long time to create a long time To make a trip to create a long time to make a trip to create a long time to make a trip to make a trip to create a long time to make a long time stealing the Netherlands. “Tata Steel owns a steel manufacturing plant at Ijmuiden in the Netherlands with an estimated capacity of 6.75 MTPA liquid steel in FY25. The company adopted a comprehensive transformation program to maximize production efficiency, reduce fixed costs and optimize the product mix and margins at the Dutch facility. to carry out his plans.
Dutch government introduces 2 billion euro support to Tata steel arm for Ijmuiden plant discovery project
