Tata Steel to break ties from its business with Russia
Steel

Tata Steel to break ties from its business with Russia

Tata Steel will stop its business with Russia, making it the latest global company to cut ties for invading Ukraine.

The spokesperson of Tata Steel told the media that the company does not have any operations or employees in Russia and has decided to stop doing business with Russia.

The company said that to ensure business continuity, all the company's steel manufacturing sites in India, the UK, and the Netherlands have found alternative supplies of raw materials to cease its dependence on Russia.

Tata Steel is among a few Indian companies that have concluded business with Russia with the initiative coming, even as India abstains from condemning the invasion and has not imposed sanctions on Moscow.

Recently, Infosys announced that it would move the business out of Russia.

Western allies have called on India to speak out against the Russia-Ukraine war. Many western companies have withdrawn businesses from Russia.

According to a report, the company will end its business ties, and businesses in UK and Netherlands are a part of this decision.

A senior executive of Tata Steel told the media that sourcing coal from Russia was miniscule.

Image Source

Tata Steel will stop its business with Russia, making it the latest global company to cut ties for invading Ukraine. The spokesperson of Tata Steel told the media that the company does not have any operations or employees in Russia and has decided to stop doing business with Russia. The company said that to ensure business continuity, all the company's steel manufacturing sites in India, the UK, and the Netherlands have found alternative supplies of raw materials to cease its dependence on Russia. Tata Steel is among a few Indian companies that have concluded business with Russia with the initiative coming, even as India abstains from condemning the invasion and has not imposed sanctions on Moscow. Recently, Infosys announced that it would move the business out of Russia. Western allies have called on India to speak out against the Russia-Ukraine war. Many western companies have withdrawn businesses from Russia. According to a report, the company will end its business ties, and businesses in UK and Netherlands are a part of this decision. A senior executive of Tata Steel told the media that sourcing coal from Russia was miniscule. Image Source

Next Story
Infrastructure Transport

NHAI to Upgrade Tamil Nadu Highways

To reduce congestion on key national highways in Tamil Nadu, the National Highways Authority of India (NHAI) has planned capacity upgrades for at least eight highway stretches. The improvements will include bypasses, flyovers, and four-laning in Salem, Coimbatore, Tiruppur, Nilgiris, and Cuddalore. NHAI has invited tenders to appoint consultants for preparing detailed project reports (DPRs) on these expansions. The affected highways include NH-181, NH-81, NH-532, NH-85, and NH-136. Proposed Upgrades Across Highways - NH-181 (Coimbatore-Gundlupet Route): This stretch will see four bypasses an..

Next Story
Infrastructure Transport

Ludhiana-Bathinda Highway Revived as NHAI Invites Bids

The Ludhiana-Bathinda highway project, initially stalled due to land acquisition issues, has been revived as the National Highways Authority of India (NHAI) invites fresh bids to resume construction. The project, part of the Ludhiana-Ajmer Economic Corridor, is estimated to cost Rs 24.61 billion and will be executed in two phases. Package 1, covering 30.03 km, has a budget of Rs 9.06 billion, while Package 2, spanning 45.25 km, is set to cost Rs 15.55 billion. The NHAI had previously withdrawn the project due to unavailability of land. However, intervention from Union Minister for Road Trans..

Next Story
Infrastructure Urban

Dilip Buildcon Wins Rs 460M Arbitration

Infrastructure major Dilip Buildcon has secured an arbitration award of Rs 460 million against the National Highways Authority of India (NHAI) over delays and breaches during the execution of a highway project in Karnataka. The dispute pertains to the Rehabilitation and Upgradation of the Kerala Border to Kollegala Section of NH 212, awarded to Dilip Buildcon under an Engineering, Procurement, and Construction (EPC) agreement dated June 6, 2014. The project involved two-lane expansion with paved shoulders and four-lane development under the National Highways Development Project (NHDP) Phase IV..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?