Tata Steel in GBP-2m UK investment aimed at wind sector
Oct 11, 2011 - India's Tata Steel (BOM:500470) said on Monday that it is investing GBP 2 million (USD 3.1m/EUR 2.3m) in its Hartlepool plant in the UK as it prepares for growing demand for wind turbine jackets.
The company said that the investment as well as a supply agreement with German steel pipe producer Eisenbau Kreamer, also announced yesterday, are aimed at boosting its offering to the offshore renewable energy industry.
Tata plans to set up a central supply base at its Hartlepool tube works that will produce steel tubular sections for foundation structures, the so-called jacket foundations, for wind turbines. Work on the new facility is set to start this month and is expected to be completed by the spring of 2012.
According to Tata, growth in the renewables sector will prompt demand for large volumes of wind tower jacket fabrications.