Tata Steel has talks with UK's government for £500 million funding
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Update time : 2023-09-07 15:03:12
The UK's government is discussing with Tata Steel to provide a £500 million funding package to ensure the long-term development of Britain's steel industry. Meanwhile, Tata Steel's Indian parent company approved a £700 million expense for a multi-year period. Tata Steel said that it will aim to the development of electric arc furnaces to replace traditional blast furnaces.
Tata Steel kept talking with the UK government for an overview of the decarbonization of steelmaking in the UK. Without the investment and support from the UK's government, businesses in the UK would be hard to transform, as reported by Tata's indication.
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