The trustees of the British Steel Pension Scheme (BSPS) have completed a third buy-in deal with Legal & General (L&G) – insuring a further 30% of its liabilities, worth around £2bn.
But the steel producer and trade unions call for urgent action and policy support to develop low carbon steel production in the UK if climate goals are to be met
"We have been in discussions over the last two years and we should come to an agreement within 12 months. Without this, we will have to look at closures of sites," Tata Group chairman Natarajan Chandrasekaran said.
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Billions of microscopic bacteria are helping scientists convert emissions from Tata Steel’s blast furnaces into products which could be used by other industries