China’s Jingye Group, which took control of British Steel early this year, is reported to be looking to acquire the remaining part of Tata Steel’s assets in the UK, in a move that would give the Chinese group, control over British steel industry.
A Sky News report said Jingye has expressed interest in the vast Port Talbot plant in South Wales, which is far bigger than British Steel’s Scunthorpe steelworks, and has even communicated its interest to Tata Steel UK’s parent in India.
In March 2020, Professional Steel successfully acquired British Steel company, one of Europe's leading steelmakers, producing about 4.5 million tonnes of steel a year. The company provides high-quality rail, section steel, special-shaped steel, wire rod and various semi-finished steel products, which are widely used in the high-end industrial field of the world.
The acquisition will also help galvanise British and Chinese economies better, leading to economic and cultural exchanges between China and the UK, according to Jingye.
