Tata Steel is set to invest GBP 12 mln (USD 15.2 mln)in its tube-making operations in Corby, funded by the sale of redundant land on the west side of the site.
Warmflame Developments (WD) has facilitated this sale, working with Tata Steel UK for the past seven years to transfer the complex 99-acre site to a leading real estate developer. The land will be transformed into a fully-serviced, campus-style logistics hub.
Gary Blackman, Tata Steel’s Works Manager for Corby, commented, “We are already well underway with a GBP 30 mln (USD 38.1 mln) investment programme in Corby. The proceeds from the sale of the old West Works land will now support the regeneration and development of one of our warehouses on the East Works into a complex of offices, stores, and engineering workshops, as well as an upgrade to one of our tube finishing lines.”
The new building will feature over 18,000m2 of Tata Steel’s Trisomet insulated wall and roof panels, ensuring faster installation and optimal performance for water drainage and strength.
1 USD / 0.78 GBP