Tata Steel has announced that the UK government has agreed to support the 1.2 billion pound investment to improve infrastructure at the plant in Port Talbot
_1694819936.jpeg)
T. V. Narendran, chief executive officer of Tata Steel stated, “Tata Steel UK has been facing significant challenges due to the heavy-end facilities approaching their end of life. The proposed project, with one of the largest investments in the UK Steel Industry in recent decades, provides an opportunity for an optimal outcome for all stakeholders,"
He also added, “With the support of the UK Government and dedicated efforts of the employees of Tata Steel UK, along with all stakeholders, we will work to transform Tata Steel UK into a green, modern, future-ready business”
According to media statements issued by Tata Steel, the company is set to receive up to 500 million pounds from the UK government.
With this partnership, Tata Steel and the UK government aim to develop ecologically sustainable steel production.
© Vygr Media Private Limited 2023. All Rights Reserved.
