Tata Steel is committed to finding a sustainable solution for its European portfolio

Mumbai: Tata Steel confirms that SSAB has withdrawn its initial interest for Tata Steel Netherland business. However, Tata Steel wishes to confirm that it is committed to arriving at a strategic resolution for its European portfolio. Tata Steel’s IJmuiden plant is among the most environmentally efficient and cost competitive steel producers in Europe. Currently, around two third of the business of Tata Steel is based in India with best in class, highly cost competitive assets and strong cash flows and Tata Steel remains committed to undertake significant de-leveraging in FY21 and beyond.