Tata Steel and Tata Steel Nederland (TSN) have signed a non-binding Joint Letter of Intent (JLoI) with the Dutch government and the Province of North Holland, outlining a shared ambition to advance the first phase of an integrated project aimed at decarbonising the IJmuiden steelworks and improving public health and environmental quality in the surrounding region.
The JLoI defines the intent and objectives of all parties involved, but does not constitute a legally binding agreement regarding project implementation or the allocation of subsidies. However, it includes a commitment to negotiate in good faith toward a customised binding agreement.
These negotiations will continue over the coming months, including the period after the upcoming Dutch elections and the formation of a new government. Final investment approval will depend on internal processes at Tata Steel and the successful conclusion of the tailored agreement.
