Tata Steel to invest £1.25 billion for furnace plant in new Port Talbot
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Update time : 2024-05-01 19:07:03
It was reported that Tata Steel, partnered with the UK government, has restated that it will go ahead with its £1.25 billon investment to build up a new electric arc furnace for steel production in Port Talbot.
Tata steel said that it follows the proposal to restructure the UK business in January 2024 and 7 months of formal and informal discussions with UK Steel Committee and its advisers. Tata announced the decision and prepared for the major transformation of Britian’s biggest steel plant at Port Talbot.
Tata plans to order equipment for the electric arc furnace by September this year and start to work on the project by August. It will set to commission the electric arc furnace by the end of 2027.
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