Tata Steel's Port Talbot seeks £500m rescue deal to save jobs amid transition to electric arc furnaces.
Tata Steel's Port Talbot facility is seeking a £500 million rescue deal to secure its future amid potential job losses for up to 2,800 employees. The investment aims to transition to less carbon-intensive electric arc furnaces, following the closure of Blast Furnace 5. A new taxpayer-backed deal is expected to be announced by the Labour party, which may include concessions to steel trade unions while facilitating "green steel" production in South Wales.
September 07, 2024
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