Latest News | Tata Steel Inks Pact with HZL for Procuring Zinc, Other Metals

New Delhi, Nov 9 (PTI) Tata Steel has entered into a memorandum of understanding (MoU) with Hindustan Zinc to procure the firm's complete domestic zinc requirements, according to a statement.

This initiative would bolster the idea of Aatmanirbhar Bharat with one of the largest companies choosing to become vocal for local.

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Under this MoU, Hindustan Zinc will cater to both Tata Steel and Tata Steel BSL, the companies said in a joint statement. "The MoU is for the highest quantity to be ever signed by Hindustan Zinc and accounts for a quantity of around 45,000 tonnes of zinc and other value-added metals," the statement said.

"This MoU is a joint step by Tata Steel and Hindustan Zinc towards Aatmanirbhar Bharat. While global technical experts deliver curated technical services for productivity and quality improvement, vendor managed inventory will ensure significantly lower inventory costs across Tata Steel units," Hindustan Zinc Arun Misra said.

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"This is a first-of-its-kind partnership in the non-ferrous metals industry and is reflective of our commitment to being value creators for our partners and towards nation-building," he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)