Tata Steel and the UK government Friday unveiled a joint investment package of £1.25 billion (Rs 12,875 crore) — which includes a government grant of £500 million — to pay for a switch from coal to lower-emission electric arc furnaces at the company’s Port Talbot site in Wales.
While the deal, aimed at bolstering UK’s steel security, is the first major step towards its decarbonisation — reducing direct emissions by 50 million tonnes over a decade — it could also put around 3,000 jobs at risk.
This story is subscriber only!
Now subscribe at a special Republic Day offer of Rs 75/month.
Subscribe Now
Already a subscriber? Sign in