– Strategic focus will be to create breakthrough technological solutions and research infrastructure in niche areas of national and international importance
– Part of the Companys larger endeavor to build stronger industry-academia partnership for creating strategic advantages
Mumbai – WEBWIRE – Monday, February 6, 2023
Tata SteelhasestablishedaCentre for Innovation in Mining and Mineral Beneficiation at the Indian Institute of Technology (IndianSchool ofMines), Dhanbad. The Companyaims to strengthenitslong-term competitiveness through excellence in developing technological solutions in natural and urban mining and beneficiation for value from low grade and difficult ores. The Centre will enable growth of relevant research infrastructure, attract talent, and help strengthen industry-academia collaborative eco-system in areas of strategic nationalimportance. Creation of this Centre is aligned toTata Steels focus on building closer ties withcentresof academic excellence andset up technology clusters in identified, strategic areas.
Dr Debashish Bhattacharjee, Vice President, Technology and New Materials Business, Tata Steel,said:Collaboration between industry and academia is key tocatalysinginnovation and aiding sustainable business growth. IIT (ISM) Dhanbad provides a strong academic and research platform with excellent talent pool in one of the areas of Tata Steels strategic, long- and short-term business interests – miningand mineral beneficiation. With thecreation ofthisCentre for Innovation with Rs 22cr from Tata Steel, we look forward to jointlydevelop and scale uptechnologies relevant for local mines and ores. Work at this centre will cover technology development for natural and urban mining. The Centre will also work on beneficiation and value addition of low-grade ores. Tata Steel is committed to pioneerdisruptive development through active engagement with academic institutions.
Prof. Rajiv Shekhar Director Indian Institute of Technology (ISM)said: We are delighted to establish this Centre of Excellence (CoE) with Tata Steel Limited in the form of Tata Steel Innovation Centre on Mining and Mineral Research (ICMMR) at IIT(ISM) Dhanbad to strengthen Industry-Institute collaborations and solve real-life problems of mutual interest. IIT(ISM) Dhanbad, a world-renowned Institute in the fields of Mining, Mineral & Earth Sciences, is extremely pleased to work with Tata Steel Limited on this path-breaking initiative. Academia and industry need to forge such symbiotic partnerships that bring benefits to both. Such collaborative efforts will be instrumental in advancing research and innovation in technology development, besides creating a skilled workforce. Through this joint collaboration, we look forward to leveraging the latest technological advancements to groom our researchers and work towards the development of sustainable, innovative processes for a green and safe future.
Technology-enabled leadership is expected to have a significant impact on Indias share of global trade in the emerging knowledge economy. Given the complexities of technical issues in indigenous raw materials, it is critical that industry and academia collaborate to achieve technology leadership, research excellence, and breakthrough technological solutions of national significance.
IIT (ISM) Dhanbad is a prestigious institute of eminence and capability, that will contribute technological thought leadership and further strengthen Tata Steels Research & Development prowess. The Innovation Center is strategically located to leverage the advantages of other nearby research institutes, regulatory bodies, and, more importantly, a trained and skilled workforce. The Center would be one of its kind in the state of Jharkhand and will target attracting youth towards Research and Development. The center will further aim to achieve research excellence by attracting renowned experts and forming strategic partnerships with OEMs to provide complete solutions.
With a century plus experience in sourcing raw material through scientific research & development and sustainable mining, Tata Steels long-term strategy has been designed to develop existing raw material resources and achieve raw material security across its global operations. The concerted research and development efforts of Tata Steel and IIT (ISM) in the mining and minerals domain will strengthen Indias position to better utilize local resources and strengthen the skills of miners in the country.
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 worlds most geographically diversified steel producers, with operations and commercial presence across the world. The group recorded a consolidated turnover of US $ 32.83 billion in the financial year ending March 31, 2022.
A Great Place to Work-CertifiedTMorganisation, Tata Steel Limited, 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 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016. Besides being a member of ResponsibleSteelTM, worldsteels Climate Action Programme and World Economic Forums Global Parity Alliance, Tata Steel has won several awards and recognitions including the World Economic Forums Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants, and Prime Ministers Trophy for the best performing integrated steel plant for 2016-17. The Company, ranked as Indias most valuable Metals & Mining brand by Brand Finance, featured amongst CII Top 25 innovative Indian Companies in 2021 and top 10 sustainable organisations of India Hurun Research Institute in the 2021 Capri Global Capital Hurun India Impact 50, received Steel Sustainability Champion recognition from worldsteel for five years in a row, Most Ethical Company award 2021 from Ethisphere Institute, RIMS India ERM Award of Distinction 2021, Masters of Risk – Metals & Mining Sector recognition at The India Risk Management Awards for the sixth consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.
To know more, visitwww.tatasteel.com
Disclaimer:
Statements in this press release describing the Companys 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 Companys 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.
