Government set to announce details of package to help Tata Steel plant
The Government is expected to announce details of a multimillion-pound package to help the transition to a greener way of producing steel at the country’s biggest steel plant.
Tata Steel is planning to change the way it produces steel at its site in Port Talbot in south Wales, with the loss of up to 2,800 jobs.
The company will close the remaining blast furnace at Port Talbot by the end of the month in readiness for switching production with a new electric arc furnace which needs fewer workers.
Campaign
The Business Secretary, Jonathan Reynolds, is expected to outline on Wednesday details of a deal to help with the transition.
The previous Conservative government had agreed to give Tata Steel £500 million towards the £1.25 billion electric furnace, which will melt scrap steel.
Unions have been campaigning to save jobs at Port Talbot, warning that the losses would have a huge impact on the local economy.
“We’ll be making further detail available later today, but the steel sector is a vital part of our UK economy.”
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