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The statement follows recent UK media reports indicating that the Labour Party has urged Tata Steel to pause the restructuring process until after next month’s general elections
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As of 31 March 2024, Tata Steel's net debt stands at Rs 77,550 crore. Despite this, the company highlighted its strong liquidity position, with group liquidity at Rs 31,767 crore, including cash and cash equivalents of Rs 9,532 crore
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The agreement includes the construction of a new electrical framework to support Tata Steel's 3.2 million-ton electric arc furnace, which is set to be operational by the end of 2027
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