Tata Steel raises concerns over UK policy dispute impact on plans

News Room
2 Min Read

Tata Steel has raised concerns over recent UK media reports highlighting potential policy differences between the UK Government and the opposition, which could impact its investment plans.

The company has confirmed its commitment to proceed with the closure of heavy end assets and restructuring programme at the Port Talbot facility.

Tata Steel urges both current and incoming governments to uphold the agreed terms of the £500 million support package for the Electric Arc Furnace (EAF) project, aiming to facilitate low emission steel production.

Despite operational challenges, Tata Steel emphasises the necessity of decommissioning plans for the heavy end assets at Port Talbot.

The closure aligns with the company’s transition towards a more sustainable steel production model.

While a voluntary redundancy programme has been implemented, Tata Steel stresses the importance of securing grant funding from the UK Government for the EAF project to safeguard long term steel supply and jobs.

However, the company expresses concern about political uncertainty surrounding the timing and nature of the grant funding, which could impact the EAF project and the future of steelmaking at Port Talbot.

Copyright © 2024 Energy Live News LtdELN

Share This Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *