COVID-19 pandemic: Tata Steel initiatives reach 1 mn beneficiaries: Chairman N Chandrasekaran

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Ranchi, Jul 5 (PTI) To combat COVID-19 pandemic, initiatives by Tata Steel including supplying 61,000 tonnes of liquid oxygen from its installations to states for setting up 1,600 hospital beds for treatment of infected has benefitted about one million people, Chairman N Chandrasekaran has said.

Those gaining from the efforts were not only the employees and their families but also the community members in and around our operating locations, he said.

'The past 18 months have been challenging for all of us in many ways. We have seen unprecedented times due to the spread of the COVID-19 pandemic across the world and it has not yet abetted with multiple variants of the virus still a threat to human lives.

'As part of the efforts to combat COVID-19, your companys #CombatCovid19 programme and direct COVID-Care support has reached the lives of over 1 million beneficiaries,' the Chairman said.

The chief of the steel giant said to help the nation during the second wave of the pandemic, Tata Steel took significant steps to supply medical oxygen to several states in India and till mid-June, 2021, supplied 61,000 tonnes of liquid oxygen from its installations.

In addition, Tata Steel foundation undertook several outreach programmes for the community to extend help and support on health, livelihood and sustenance of the marginalised section of the society, he said.

'Your company continues to be committed to do its best and provide necessary support to the community and the nation at this time of crisis,' he asserted.

As a result of the pandemic, the Indian steel industry has also suffered production losses due to the national lockdown especially in the first two quarters of the financial year.

But, they recovered gradually in the third and fourth quarter driven by strong revival in the domestic steel demand and rebound in manufacturing and infrastructure development activity in India, he added.

Tata Steel is currently the worlds second-most geographically diversified steel producer and one of the few steel operations that are fully integrated from mining to the manufacturing and marketing of finished products.

Set up in 1907, it has to its credit development of Indias first industrial city at Jamshedpur and is among the leading global steel companies.

For the Financial Year 2020-21, the consolidated revenues of the company increased by 5 per cent to Rs 1,56,294 crore while the consolidated profit after tax also increased to Rs 8,190 crore. PTI NAM SNS SNS

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