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Tata Steel NSE 2.77 % has unveiled a 7-million pound investment plan for its Hartlepool Tube Mill in north-east England that the Indian steel major says will cut carbon emissions, improve capacity and reduce costs to strengthen its UK business.

At the current price range, the industry expert said, the cost of coking coal alone in steel making is around Rs 28,000 to Rs 30,000 per tonne, which works to about 40-45 per cent of the production cost. Besides, there are other input materials like iron ore, ferroalloys, logistics, fuel costs and other fixed costs.

"WCL is on an aggressive roadmap towards strengthening its water infrastructure portfolio both in India and globally. The receipt of this new contract by our associate company, EPIC, is a testament to that, as we continue to solidify our leadership position in the Saudi market," company's MD & CEO Vipul Mathur said.

The Indian government levied a 15% export duty on steel 21 May in a bid to increase supply for domestic consumer industries and tame inflation. A steep export duty was also levied on iron ore while import duties were cut on inputs like coal to reduce the cost of production for steelmakers

The mines ministry has proposed to do away with the requirement of obtaining forest clearance for exploration of mineral blocks, a move that would lead to auction of more mines and augment the country's mineral output.

Steel prices in India had already corrected 10% in line with global trends when the government surprised the industry with a 15% export levy, said Dilip Oommen, president of the Indian Steel Association, an association representing steelmakers.

The government responded to high inflation in the economy by announcing a series of steps to cool prices and cushion the impact on the common man.

Steelmaker ArcelorMittal Nippon Steel (AMNS) India will invest an additional Rs 1,000-crore in Andhra Pradesh to expand its pellet plant capacity to 11 MTPA.

The government on Wednesday said the auction of mineral blocks has stabilised in the country as 186 mines have been put on sale so far.

T. V. Narendran, chief executive of India's biggest steelmaker by revenue, said that while Tata Steel understood the inflationary concerns, such measures can hit the steel industry over longer term By Aditya Kalra