Tata Steel on Monday said it has decided to cease operations of the coke ovens at the Port Talbot plant in the U.K.
It will increase import of coke to offset the impact of the coke oven closures, Tata Steel said in a regulatory filing.
"As a further update on its operations in the U.K., Tata Steel U.K. has decided to cease operations of the coke ovens at the Port Talbot plant, in Wales, following a deterioration of operational stability," the filing said.
Tata Steel had previously stated that many of its heavy-end assets in Port Talbot are at their end-of-life capability.
Tata Steel is currently at an advanced stage of consultations with trade unions in the UK on its proposal for the planned restructuring involving closure of the iron and steelmaking assets at Port Talbot, and transition to sustainable low-carbon steelmaking facility.
The transition plan involves a 1.25 billion pound investment in Electric Arc Furnace technology in Port Talbot and asset upgrades.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
