Tata Steel’s Jamshedpur plant recognised as World Economic Forum’s Advanced 4th Industrial Revolution (4IR) Lighthouse
~ The ‘Lighthouses’ are chosen for their leadership in applying Fourth Industrial Revolution technologies to drive financial and operational impact ~
~ The new factories of the future light the way for the Next New Normal in manufacturing ~
Tata Steel’s Jamshedpur Steel Plant has been recognised as the World Economic Forum’s Advanced 4th Industrial Revolution Lighthouse. With this new milestone, Tata Steel is the one of the few enterprises with three manufacturing sites in the Global Lighthouse network, with Kalinganagar Plant (India) and IJmuiden (the Netherlands) being the other two sites.
The World Economic Forum’s Shaping the Future of Advanced Manufacturing and Production has set up the Global Lighthouse Network to bridge the gap between the manufacturing units that have adopted the Fourth Industrial Revolution Technologies and those who are yet to embrace it. The companies that have been selected as a part of the Lighthouse Network are able to lead the way forward towards the use of technology to transform factories, value chains, and business models.
T. V. Narendran, CEO & MD, Tata Steel, said: “It is a proud moment for all of us at Tata Steel as the Jamshedpur plant joins the prestigious Lighthouse Network of the World Economic Forum. In 2018 our IJmuiden plant and in 2019 our Kalinganagar plant were honoured with this recognition and we are pleased to have achieved this milestone for Jamshedpur this year. Our investments in state-of-the-art equipment, utilities and adoption of automation along with multiple digital interventions has resulted in improved productivity across all the three manufacturing sites. The Covid-19 pandemic has further accelerated our resolve to move towards digital manufacturing.”
Tata Steel Jamshedpur’s journey from being Asia’s first integrated steel plant set up in 1907 to receiving this recognition in 2021 is a testament to the Company’s continuous improvement culture, its ability to embrace change and constantly be in sync with technological progress, and focus on employee capability building.
One of the key elements of the Lighthouse Network is its commitment to discovering and elevating solutions that can be scaled up in cost-effective ways across companies and industries. During the Covid-19 pandemic, the Company leveraged its past investments in 4th Industrial Revolution technologies to ensure Covid appropriate behaviour in operational areas and business continuity during lockdowns while continuing to adopt new ways of working.
Tata Steel has been on a multi-year digital enabled business transformation journey intending to be the leader in digital steel making by 2025 through adoption of digital technologies. In the process, the Company intends to generate substantial EBIDTA improvement, enhance its digital maturity & stakeholder experience while evolving its work practices to be more agile, insightful and intelligent as an organisation.
About Tata Steel
Tata Steel group is among the top global steel companies with an annual crude steel capacity of 34 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 $19.7 billion in the financial year ending March 31, 2020.
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 has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 5 steel companies in the DJSI Corporate Sustainability Assessment since 2016. Besides being a member of ResponsibleSteelTM and worldsteel’s Climate Action Programme, Tata Steel has won several awards and recognitions including the World Economic Forum’s Global Lighthouse recognition for its Kalinganagar Plant - a first in India, and Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17. The Company, ranked as India’s most valuable Metals & Mining brand by Brand Finance, received the ‘Honourable Mention’ at the National CSR Awards 2019, Steel Sustainability Champion 2019 by worldsteel, CII Greenco Star Performer Award 2019, ‘Most Ethical Company’ award 2020 from Ethisphere Institute, Best Risk Management Framework & Systems Award (2020) by CNBC TV-18, and Award for Excellence in Financial Reporting FY20 by ICAI, among several others.
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