Tata Steel has proposed an additional financial support package worth approximately £130 million for employees impacted by its transition plan in the United Kingdom, according to Tata Steel Chief Financial Officer Koushik Chatterjee.

As part of a decarbonization strategy for its UK operations, Tata Steel aims to reduce carbon emissions and energy costs. This includes phasing out high-emission blast furnaces and coke ovens by 2024 and transitioning to electric arc furnace (EAF) steelmaking, which has lower emissions. The EAF transition is estimated to cost £1.25 billion, with £500 million in support from the UK government, said Chatterjee on an investor earnings call. The proposed £130 million support package would provide assistance to Tata Steel employees affected by the structural changes and transition process.