Tata Steel Kalinganagar felicitated at World Economic Forum 2020
~ Company’s youngest plant in Odisha was recently admitted into Global Lighthouse Network ~
~ Second plant from Tata Steel Group to join this leadership group ~
~ T. V. Narendran, CEO & MD, Tata Steel, accepts the award in Davos, Switzerland ~
Mumbai, January 23, 2020: Tata Steel Kalinganagar (TSK) has been honoured at the World Economic Forum (WEF) 2020 for its recent admittance into the Global Lighthouse Network, a small but growing group of global corporations that are showing leadership in applying Fourth Industrial Revolution technologies to drive financial and operational impact.
Tata Steel’s CEO & MD, T. V. Narendran, who represented the Company at the World Economic Forum 2020 held in Davos, attended the private dinner of the Global Lighthouse Network, a project of the World Economic Forum in collaboration with McKinsey & Company. He accepted the award from Ms. Katy George, Senior Partner, McKinsey & Company, and Mr. Francisco Betti, Head of Shaping the Future of Advanced Manufacturing and Production, World Economic Forum.
In July 2019, TSK became the first and only Indian manufacturing plant to be included in the WEF’s Lighthouse Network when 10 new factories, including TSK, were added to the Global Lighthouse Network. Tata Steel’s IJmuiden plant in the Netherlands is already a member of this network.
T. V. Narendran said: “It is a proud moment for all of us as Tata Steel Kalinganagar joins the prestigious Lighthouse Network of the World Economic Forum. TSK has the distinction of featuring several firsts in the Indian steel industry. At Kalinganagar, we not only have state-of-the-art equipment and utilities but also drive higher productivity through automation and digital interventions. As we increase our capacity at TSK to 8 MnTPA, we will continue to implement the best technologies and innovate across the value-chain to drive operational excellence.”
A whitepaper titled Global Lighthouse Network: Insights from the Forefront of the Fourth Industrial Revolution http://www3.weforum.org/docs/WEF_Global_Lighthouse_Network.pdf) published by the Global Lighthouse Network in collaboration with McKinsey & Company said that Tata Steel’s greenfield steel plant in Kalinganagar “is helping to set a new standard in the speed at which a factory can achieve full capacity from complete nascency. It additionally improved time to market by 50%, thanks to significant investments in digital and analytics solutions, as well as capability-building to develop the digital skills of a relatively junior and inexperienced team.”
Commissioned in 2016 and spread over 3000 acres, TSK attained production levels at its rated capacity in less than two years and is the largest single-location greenfield steel project in India.
About Tata Steel
Tata Steel group is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum. It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world. The group (excluding SEA operations) recorded a consolidated turnover of US $22.67 billion in the financial year ending March 31, 2019. In 2018, Tata Steel acquired Bhushan Steel Ltd (now renamed as Tata Steel BSL Ltd).
A Great Place to Work-Certified organisation, Tata Steel Ltd., together with its subsidiaries, associates and joint ventures, is spread across five continents with an employee base of over 65,000.
Tata Steel retained the ‘Global Steel Industry Leader’ position in the DJSI 2018. The Company has been recognised as the Climate Disclosure Leader in ‘Steel category’ by CDP (2017). Besides being a member of the World Steel Climate Action Programme, Tata Steel has won several awards including the Lighthouse recognition for its Kalinganagar Plant – a first in India, Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, ‘GreenPro’ certification for products (Tata Pravesh Steel Doors, Tata Structura, Tata Pipes) by CII, Authorized Economic Operator (AEO) status (Tier 2) by the Directorate of International Customs (Ministry of Finance, Govt. of India), ‘Corporate Strategy Award’ by Mint (2018), Golden Peacock Award for Risk Management (2018) and Best Risk Management Framework & Systems Award (2019) by CNBC TV18. The Company also received the ‘Most Ethical Company’ award from Ethisphere Institute for the eight time (2019), Steel Sustainability Champion (2018) by the World Steel Association, Dun & Bradstreet Corporate Awards (2019), Golden Peacock HR Excellence Award by Institute of Directors (2018), ‘Best Companies To Work For’ recognition by Business Today, 'Asia's Best Integrated Report' award by the Asia Sustainability Reporting Awards (2017), among several others.
Last year, the Company launched a corporate brand campaign #WeAlsoMakeTomorrow..
To know more, visit www.tatasteel.com | Follow us on
Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/or other incidental factors.
Chief, Corporate Communications-India & SEA