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UK’s Indian Origin Steel Tycoon Sanjeev Gupta to Create 300 New Jobs in a steel division formerly owned by Tata Steel

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A worker, (representational image), Pixabay

London, May 4, 2017: On Tuesday, Britain’s Indian-origin steel tycoon Sanjeev Gupta announced 300 new jobs and multi-million- pound investments in a steel division formerly owned by Tata Steel.

Gupta’s Liberty House, the industrial and commodities group that is purchasing steel assets around the world, stated it plans to safeguard the future of five sites across the north of England and West Midlands as it formally fulfilled its 100-million-pound acquisition of Tata Steel UK’s Speciality Steels division, a deal announced earlier this year.

Besides, the objective to create new jobs, the move shields at least 1,700 existing jobs at three major sites at Rotherham, Stocksbridge and Brinsworth in South Yorkshire, smaller sites in Bolton, Lancashire and Wednesbury in the West Midlands and two distribution centres in China, mentioned PTI report.

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After this acquisition, Liberty will become one of the largest steel and engineering employers in the UK, with over 4,500 workers.

“The Speciality Steels business is a global leader in its field, with a highly skilled and well-motivated workforce and we are eager to invest so it can grow and achieve its full potential. Today marks a step change for the Liberty House Group because we are taking on strategically important capacity that will drive expansion in the years ahead,” Gupta stated today.

According to PTI report, the Liberty House executive chairman, on an acquisition spree in the US recently, stated the UK investment is aimed at accomplishing his global GreenSteel vision of steel production’s sustainable future, which will ease investment in engineering products and reduction of the supply-chain gaps in the UK, especially in automotive and aerospace sectors.

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Speciality Steels yields a range of high-value steels utilised in the manufacture of vehicles, aircraft, equipment for the oil and gas industry and industrial machinery.

Liberty stated it plans to invest up to 20 million pounds in new plant and equipment in the first year alone to augment competitiveness and safeguard international market leadership for the business, which is being relaunched as Liberty Speciality Steels.

Production from the arc furnaces is anticipated to rise over a million tonnes per annum and there are plans for the bar mill to produce over 400,000 tonnes a year.

The acquisition exhibits a major step forward for Liberty’s GreenSteel strategy as it gives the group the largest arc furnace capacity in the UK, a key component in its plan to ascend low-carbon steel production based on recycling metal in furnaces powered by renewable energy.

The Speciality Steels transaction is the latest in a succession of key acquisitions and business turnarounds undertaken by Liberty House, SIMEC and the broader GFG Alliance over the past three years.

These are comprised of major metal, energy, engineering, property and financial assets in London, West Midlands, Wales and Scotland.

– prepared by Sabhyata Badhwar. Twitter: @SabbyDarkhorse

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Rajasthan’s Leading Properties Go Green To Follow The Sustainable Route

Once a warrior fort, the management of the heritage property also engages the villagers in tasks like organic farming.

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Famous Forts in India
Amer fort, Jaipur, Rajasthan (Pic Credits : Elene Machaidze)

From plastic straws to copper vessels, handmade lamps and bangles, Rajasthan’s leading hospitality players here are establishing new trends by engaging local artisans to showcase traditional artistry to guests and serving them locally-inspired cuisine amid green surroundings.

“We have initiated the use of paper-made straws; there is no use of plastic bags anywhere in the hotel property and the local-inspired food is being served to guests to ensure the locals have a regular source of income,” Binny Sebastian, General Manager, Bishangarh’s Alila Fort heritage hotel, some 50 km from here, told IANS.

Once a warrior fort, the management of the heritage property also engages the villagers in tasks like organic farming.

organic farming
Once a warrior fort, the management of the heritage property also engages the villagers in tasks like organic farming.

“Our association with the locals is quite strong. Working with them, we take our guests to the local temple. They also visit the artisans’ houses and sip tea there while watching them make pottery and weave carpet. In this way, we ensure that locals get a decent livelihood,” Sebastian added.

“We have started getting regular income since this property came up a year back. We have been showing our art to the guests here which gives us satisfaction as well as an income,” said Nizamuddin, a bangle maker.

Ashok S. Rathore, General Manager of the Rambagh Palace, said: “We have curtailed the use of plastic. There are no plastic straws being used on the property. We serve in glass bottles instead of plastic water bottles.”

This property is also adopting sustainable routes to ensure that the locals get decent income opportunities for their sustenance.

Famous forts in India
Chittorgarh Fort, Rajasthan (Wikimedia Commons)

“Our interiors are reminiscent of handmade interiors. Our suites are adorned with Thikri art, a rare gold-dipped miniature artwork of Rajasthan. But skilled artists are disappearing and it comes with a high cost of production,” said Rathore.

Also Read: Stop “Stereotyping” Northeast, States Hold Strong Cultural Harmony

Fairmont Jaipur has incorporated the fine craftsmanship and beauty of the local cultural heritage and artisans of Jaipur. The ceilings are hand-painted by local artisans with complex motifs.

“We associate with the local artisans to showcase their talent at the hotel in the form of the evening entertainment, the welcome experience and celebrate the local heritage of Rajasthan,” said Srijan Vadhera, General Manager, Fairmont Jaipur. (IANS)