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Tata Steel seeks $900 million from the British government

2020-07-30   

According to foreign media reports, Tata Steel hopes to receive 900 million pounds (US $1.156 billion) from the British government's birch fund, and the company will provide the British government with a 50% stake in its Port Talbot steel plant in Wales.

 

It is understood that if the proposal is approved, the plant will be partially nationalized.

 

However, the negotiation is still in the tentative stage. The funds for the birch project are strictly controlled, and the enterprises supported must support the goal of zero emission by 2050. Tata Steel is planning to close two blast furnaces at the plant and replace them with electric arc furnaces.


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