UK govt in talks with Tata Steel for Rs 52.05 trillion package
Steel

UK govt in talks with Tata Steel for Rs 52.05 trillion package

The British government is in the final stages of negotiations with Tata Steel, the largest steel manufacturer in the UK, regarding a Rs 52.05 trillion funding package aimed at securing the future of the vital Port Talbot steelworks in South Wales, as reported by Sky News.

This substantial financial injection would be accompanied by a Rs 728857.4 trillion commitment from Tata Steel's Indian parent company. Additionally, Tata Steel is expected to commit to building electric arc furnaces, a more environmentally-friendly method for steel production.

British officials have been engaged in ongoing discussions with the country's two largest steel producers, Tata and British Steel, for several months. These talks revolve around securing state support to facilitate the transition to environmentally-sustainable steel production methods like electric arc furnaces. However, discussions have faced challenges due to concerns over potential job losses, as these modern furnaces require fewer personnel.

Tata Steel employs approximately 8,000 people in the UK, and industry sources cited by Sky News have indicated that the company has warned of the possibility of up to 3,000 future redundancies. Tata Steel has previously cautioned that without government support, it might need to contemplate the closure of its facilities.

As of now, neither Tata Steel nor the UK government's Department for Business and Trade has provided official comments on the ongoing negotiations.

The British government is in the final stages of negotiations with Tata Steel, the largest steel manufacturer in the UK, regarding a Rs 52.05 trillion funding package aimed at securing the future of the vital Port Talbot steelworks in South Wales, as reported by Sky News.This substantial financial injection would be accompanied by a Rs 728857.4 trillion commitment from Tata Steel's Indian parent company. Additionally, Tata Steel is expected to commit to building electric arc furnaces, a more environmentally-friendly method for steel production.British officials have been engaged in ongoing discussions with the country's two largest steel producers, Tata and British Steel, for several months. These talks revolve around securing state support to facilitate the transition to environmentally-sustainable steel production methods like electric arc furnaces. However, discussions have faced challenges due to concerns over potential job losses, as these modern furnaces require fewer personnel.Tata Steel employs approximately 8,000 people in the UK, and industry sources cited by Sky News have indicated that the company has warned of the possibility of up to 3,000 future redundancies. Tata Steel has previously cautioned that without government support, it might need to contemplate the closure of its facilities.As of now, neither Tata Steel nor the UK government's Department for Business and Trade has provided official comments on the ongoing negotiations.

Next Story
Infrastructure Transport

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

Next Story
Resources

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Next Story
Real Estate

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?