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Mumbai, September 15, 2023: Commenting on the announcement, Tata Group Chairman N Chandrasekaran said: “The agreement with the UK Government is a defining moment for the future of the Steel Industry and indeed the industrial value chain in the UK. It
India's Tata Steel and the UK government have announced a joint agreement on a proposal to invest in Electric Arc Furnace steelmaking at the Port Talbot site with a capital cost of £1.25 billion (USD 1.54 billion) inclusive of a grant from the UK Government of up to £500 million ($621 million), subject to relevant regulatory approvals.
Mumbai, September 15, 2023 ~ The proposal lays the decarbonisation pathway towards globally competitive and sustainable steel making in Port Talbot, UK.
The UK government's £500m investment to keep Tata Steel's Port Talbot site open and reduce emissions faces criticism from green groups over potential job losses.