Tata Steel to make multi-million pound investment in new cold mill at Corby steelworks
UK steelmaker Tata Steel is investing tens of millions of pounds in a new cold mill at its Corby site in Northamptonshire, it said April 7.
The work will include completely replacing one of the site’s four mills with new technology leading to improved efficiency, reduced energy consumption and better availability for customers, Tata said.
The site processes steel made at Port Talbot in South Wales and the new mill will roll steel into formed structural tubes in both round and rectangular sections for use in construction and engineering applications.
The new mill is expected to be completed by the end of 2023 and produce around 300,000 mt of an enhanced product, Tata said, without giving an exact investment amount.
“This key investment is part of the wider investment into our Corby site… We will continue to operate the current cold mill while the new one is built ensuring there is no impact on our customers,” Tata Steel CCO Anil Jhanji said.
He added that the new mill would allow the company to explore additional market opportunities.
The new investment came on the back of the recent GBP4 million ($5.2 million) spent on a new warehouse which was nearing completion, Corby Works Manager Gary Blackman said.
Both projects form part of a wider GBP30 million Corby transformation program to make the operations more efficient.
S&P Global Commodity Insights assessed the CRC ex-works Ruhr price at Eur1,465/mt April 6, up 36.9% since the start of 2022.
— Jacqueline Holman