The British government is close to agreeing on a support package worth 500 million pounds, equivalent to 584 million euros, for Tata Steel. The company owns the largest steel mills in the United Kingdom.
This news channel reported sky Based on sources. Tata Steel has long said that government support is needed to keep the blast furnace complex open.
The money is supposed to help Tata Steel make its plant in Port Talbot in Wales green and ensure its long-term existence. About 4,000 people work in this factory.
Tata Steel itself wants to launch a £700 million investment over several years to reduce emissions at Port Talbot and make production processes more sustainable. It is possible that many factory jobs will disappear in the long term because fewer employees are needed due to the shift to cleaner production processes.
The British steel plant was previously under the same European division as Tata Steel Netherlands, but the Dutch segment with the steel plant in Ijmeden is now a stand-alone subsidiary within the Indian group.
