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Tata Steel proposes additional GBP 130-mn support package for Port Talbot workers in UK: CFO

Tata Steel has proposed an additional financial support package of around £130 million for workers affected by its transition plan in the UK. As part of the decarbonisation plan, the company will close high-emission blast furnaces and coke ovens in 2024 and shift to electric arc furnace-based steelmaking. The transition aims to save energy costs and reduce carbon emissions. Tata Steel CEO T. V. Narendran emphasized the challenging situation and the company s efforts to provide fair and considerate outcomes for affected employees. The comprehensive support package is in addition to the funding for the Transition Board.

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