Tata Steel in discussion to raise up to $400 mn in offshore green loan
Steel

Tata Steel in discussion to raise up to $400 mn in offshore green loan

India's Tata Steel is in discussions to raise up to $ 400 million, which would be the company's first green loan.

The debt might have a tenor of around five years and that the proceeds would be utilised for capital investment. Bank of America Corp., HSBC Holdings Plc, JPMorgan Chase & Co., and Mitsubishi UFJ Financial Group Inc. are some of the lenders.

No decision has been made in stone yet, and specifics may yet alter. According to information collated by Bloomberg, this would be Tata Steel's first green loan.

Steel production uses a lot of carbon, thus the industry needs new funding to reduce its environmental impact. According to a 2022 McKinsey Quarterly analysis, the transition to low-emissions products will cost around $ 4.4 trillion over the following 30 years.

Tata Steel falls short of its competitors on a number of environmental parameters, such as greenhouse gas emissions, air quality, and water and waste management.

Also read:
Tata Steel Q4 Update: 3% growth in output; 3.43% decline in revenue
UltraTech Cement partners with Tilt Brand Solutions


India's Tata Steel is in discussions to raise up to $ 400 million, which would be the company's first green loan. The debt might have a tenor of around five years and that the proceeds would be utilised for capital investment. Bank of America Corp., HSBC Holdings Plc, JPMorgan Chase & Co., and Mitsubishi UFJ Financial Group Inc. are some of the lenders. No decision has been made in stone yet, and specifics may yet alter. According to information collated by Bloomberg, this would be Tata Steel's first green loan. Steel production uses a lot of carbon, thus the industry needs new funding to reduce its environmental impact. According to a 2022 McKinsey Quarterly analysis, the transition to low-emissions products will cost around $ 4.4 trillion over the following 30 years. Tata Steel falls short of its competitors on a number of environmental parameters, such as greenhouse gas emissions, air quality, and water and waste management. Also read: Tata Steel Q4 Update: 3% growth in output; 3.43% decline in revenue UltraTech Cement partners with Tilt Brand Solutions

Next Story
Building Material

JSW Steel and POSCO to Invest ?650 Billion in Odisha Steel Plant

India's JSW Steel and South Korea's POSCO have announced plans to jointly invest ?650 billion (~$7.73 billion) in constructing a steel plant in Odisha. The plant, which will have an initial capacity of 5 million tons of steel annually, is part of their strategy to tap into India's rapidly growing steel market, fueled by its fast-paced economic expansion. The cooperation agreement was signed last week, although specific financial details were not disclosed. The initial investment for the project will be ?200 billion, with the plant expected to be operational by next year. Over the following thr..

Next Story
Infrastructure Urban

India's EV Charging Market Set to Reach $3.7 Billion by 2030

India’s electric vehicle (EV) charging market is projected to grow to $3.7 billion by 2030, driven by increasing EV adoption and the need for efficient charging solutions. The sector is expected to expand at a compound annual growth rate (CAGR) of 16%, supported by environmental concerns and fluctuating fuel prices. Globally, the EV charging infrastructure market is also experiencing significant growth, with revenues forecast to surge from $25.9 billion in 2023 to $164 billion by 2030, reflecting a CAGR of approximately 12%. "Fast-charging technologies and battery-swapping solutions are esse..

Next Story
Resources

IIA Kerala to host SRC 2024 on November 29-30

The Southern Regional Conference (SRC) 2024, hosted by The Indian Institute of Architects (IIA) Kerala Chapter and organised by IIA Kannur Centre, will take place on November 29-30, 2024 at Vythiri Village Resort in Wayanad. This prestigious conference will bring together visionary architects from across the country  and beyond to foster a rich dialogue and exchange of innovative ideas in the field of architecture.The Southern Regional Conference serves as a premier platform for professional development, knowledge sharing, and networking within the architectural community. This year’s t..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000