Tata Steel is under scrutiny from the Dutch Environmental Service (ODNH) for emissions violations at its coking gas plants 1 and 2 in the Netherlands. The company faces a potential penalty of up to €27 million and has been given eight weeks to significantly reduce harmful emissions.
On December 23, 2024, Tata Steel share price saw a 1.70% gain, trading at ₹143.25 on the Bombay Stock Exchange (BSE) at 11:20 AM IST. According to BSE data, the stock recorded a total traded volume of 5.75 lakh shares, with a turnover of ₹8.21 crore.
Inspections conducted in February and August revealed that harmful substances, including heavy metals and carcinogenic polycyclic aromatic hydrocarbons (PAHs), were being emitted at alarmingly high levels. Factory 1 showed emissions 20 times above the legal limit, while Factory 2 recorded levels five times over the limit.
The Dutch Environmental Service has issued a formal notification requiring Tata Steel to address these violations. The company must submit a plan of action within six weeks and has one year to bring Factory 2 into compliance with legal standards. Failure to meet these deadlines could result in permit revocation, alongside the €27 million fine.
In an exchange filing, Tata Steel said “We find the way in which these decisions were made very painful,” the company said, emphasising the factory’s role in its operations and its long-term “Green Steel” sustainability plan. Tata Steel has also signalled its intention to engage with the Environmental Service, provincial authorities, and other stakeholders to resolve the issue.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Dec 23, 2024, 11:47 AM IST
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