Government ‘in talks with Tata Steel to provide £500m funding package’
1 year, 4 months ago

Government ‘in talks with Tata Steel to provide £500m funding package’

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Government is reportedly in advanced talks with Tata Steel to provide a £500 million funding package aimed at safeguarding the long-term future of a key part of Britain’s steel industry. Under draft plans, the Government would commit approximately £500 million of public funding, while Tata Steel’s Indian parent company would agree £700 million of capital expenditure over a multi-year period, the report said. Given the financially constrained position of our UK business, such significant change is only possible with Government investment and support Tata Steel The company would reportedly commit to building electric arc furnaces, which offer greener, less labour-intensive ways of producing steel than traditional blast furnaces. “Given the financially constrained position of our UK business, such significant change is only possible with Government investment and support, as This Government could make us the green steel capital of Europe – instead they are choosing to follow a job cuts agenda Sharon Graham Unite general secretary Sharon Graham criticised the reported plans and said the union would be “mounting a significant campaign” to protect jobs.

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History of this topic

More funds to support steel workers and businesses
3 weeks ago

More funds to support steel workers and businesses

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Government has announced it …

Speed up support for Tata Steel or jobs will go: FNV and GL-PvdA
1 month ago

Speed up support for Tata Steel or jobs will go: FNV and GL-PvdA

Dutch News  

The government must make haste with financial support to enable Tata Steel in IJmuiden to comply with emission norms to prevent job losses and the decline of the country’s industrial base, trade union FNV and the GroenLinks-PvdA have told the government. Tata Steel IJmuiden needs billions of euros to make the transition from coal to green hydrogen but negotiations about …

Labor union, left-wing parties want state aid to help Tata Steel sustainability efforts
1 month ago

Labor union, left-wing parties want state aid to help Tata Steel sustainability efforts

NL Times  

Trade union FNV and opposition party GroenLinks-PvdA are working on a letter urging the government to provide State Aid for Tata Steel’s sustainability transition before it is too late, NOS reports. The steel factory in IJmuiden must push billions into reducing its emissions, while also struggling with evaporating profit margins due to cheap steel from China and high energy costs. …

Fund will help steelworkers affected by job losses
1 month, 3 weeks ago

Fund will help steelworkers affected by job losses

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Ministers said the aim is to help steelworkers and …

Govt policy, aid must to cut Indian steel industry’s emissions: Tata Steel MD
2 months ago

Govt policy, aid must to cut Indian steel industry’s emissions: Tata Steel MD

Live Mint  

The government must provide fiscal and policy support if the steel industry were to bring down emissions, Tata Steel Ltd managing director T.V. In Europe, the customers are willing to pay more for green steel; the regulation encourages you to reduce your CO2 footprint Steel produced in India is the dirtiest in the world, emitting upwards of 2.6 tonnes of …

After Port Talbot, is there any hope for British steel?
3 months, 4 weeks ago

After Port Talbot, is there any hope for British steel?

The Independent  

The government has announced a “new improved” arrangement with Tata, the conglomerate that owns the Port Talbot steelworks, confirming a £500m grant which will go towards building a greener electric arc furnace. The GMB and Community – unions which are represented at Port Talbot – have said the new deal is better than what went before but is still “not …

Tata Steel signs £500 million deal with UK government for Port Talbot
3 months, 4 weeks ago

Tata Steel signs £500 million deal with UK government for Port Talbot

Live Mint  

The UK government has awarded Tata Steel Ltd a £500 million grant for its green steel project in Port Talbot. Tata Steel Ltd has signed a £500 million grant funding agreement with the UK government for its £1.25 billion green steel project in Port Talbot. Jobs at stake Alongside its planned £750 million investment, Tata Steel has deployed its global …

Labour urges Tata to avoid irreversible action on Port Talbot plant pre-election
6 months, 1 week ago

Labour urges Tata to avoid irreversible action on Port Talbot plant pre-election

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. All parties must pull back from the brink and …

Tata Steel's UK workers to strike over job cuts and blast furnace closures
6 months, 2 weeks ago

Tata Steel's UK workers to strike over job cuts and blast furnace closures

Hindustan Times  

Tata Steel’s workers in the UK will begin an "indefinite strike" from July 8 in protest over the company's plans to cut jobs, marking the UK’s first strike by steelworkers in 40 years. Tata Steel's Port Talbot steel production plant is seen at night time Around 1,500 workers based in the Port Talbot and Llanwern steel plants will begin an …

Talks over Tata steel plans have broken down, say unions
8 months ago

Talks over Tata steel plans have broken down, say unions

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Tata talks the talk and wants to be seen …

Tata Steel UK to shut blast furnaces, rejects unions' proposal
8 months, 2 weeks ago

Tata Steel UK to shut blast furnaces, rejects unions' proposal

Live Mint  

Mumbai: Tata Steel Ltd on Thursday said that it will proceed with its £1.25 billion electric arc furnace project at its Port Talbot plant to replace two aged blast furnaces, rejecting a plea by UK unions to keep a furnace running to prevent job losses. {{^adFree}} {{/adFree}} The proposal to maintain one blast furnace through the transition would have incurred …

Tata Steel proposes additional support package of 130 million pounds for Port Talbot workers in UK
11 months ago

Tata Steel proposes additional support package of 130 million pounds for Port Talbot workers in UK

Live Mint  

For the workers who would be affected as part of its transition plan in the United Kingdom, Tata Steel has proposed an additional financial 'support package' of around 130 million pounds, reported PTI on 4 February. {{^adFree}} {{/adFree}} The company drafted a decarbonization plan for Tata Steel UK to reduce carbon emissions and save energy costs including installing new plant …

Tata Steel to cut 2,800 UK jobs, shut down 2 blast furnaces at Port Talbot
11 months, 3 weeks ago

Tata Steel to cut 2,800 UK jobs, shut down 2 blast furnaces at Port Talbot

Live Mint  

The closures are part of the company’s plan to turn around its loss-making UK steelmaking business by switching to lower-carbon electric arc furnaces. Steelmaker Tata Steel said on Friday that it will shut down its two blast furnaces at its Port Talbot steelworks in Wales, Britain by the end of this year, which will result in the loss of up …

Tata Steel announces plans to cut 2,800 jobs in a blow to Welsh town built on steelmaking
11 months, 3 weeks ago

Tata Steel announces plans to cut 2,800 jobs in a blow to Welsh town built on steelmaking

Associated Press  

LONDON — Indian firm Tata Steel announced Friday it will close both blast furnaces at its plant in Port Talbot, Wales, eliminating 2,800 jobs, as part of plans to make its unprofitable U.K. operation leaner and greener. The company said the switch would “reverse more than a decade of losses and transition from the legacy blast furnaces to a more …

Unions threaten to shut down steelworks over 3,000 job losses
11 months, 3 weeks ago

Unions threaten to shut down steelworks over 3,000 job losses

The Telegraph  

The steel giant, which is owned by Indian conglomerate Tata Group, on Friday said that about 2,500 jobs will be lost within the next 18 months. Another 300 redundancies are expected to be made in the next few years, which could include jobs at Tata Steel’s cold rolling operation in Llanwern in Newport, South Wales. The mass layoffs are part …

Tata Steel to cut 3,000 jobs in Wales: Report
11 months, 3 weeks ago

Tata Steel to cut 3,000 jobs in Wales: Report

Hindustan Times  

Indian-owned Tata Steel is to cut about 3,000 jobs at a plant in Wales, a source with knowledge of the plan said Thursday, as the industry struggles to finance greener production of the metal. Towards the end of last year, the UK government provided £500 million to fund the production of "greener" steel at the country's biggest steelworks, while saying …

Unions present Tata with alternative plan aimed at saving jobs at steel plant
1 year, 1 month ago

Unions present Tata with alternative plan aimed at saving jobs at steel plant

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The alternative plan developed by Syndex is credible, workable and will secure decarbonised steelmaking …

Fears over jobs as British Steel confirms plans to shut blast furnaces
1 year, 2 months ago

Fears over jobs as British Steel confirms plans to shut blast furnaces

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy British Steel will close down …

Announcement on future of Port Talbot steelworks jobs delayed
1 year, 2 months ago

Announcement on future of Port Talbot steelworks jobs delayed

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. We are committed to meaningful information and consultation process …

Thousands of job losses expected to be confirmed at Port Talbot steelworks
1 year, 2 months ago

Thousands of job losses expected to be confirmed at Port Talbot steelworks

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “We believe our £1.25 billion proposal to transition to …

British steel ‘the future, not the past’, Starmer vows during Port Talbot visit
1 year, 2 months ago

British steel ‘the future, not the past’, Starmer vows during Port Talbot visit

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sir Keir Starmer said that …

Labour promises UK steel industry will be ‘backed not abandoned’
1 year, 2 months ago

Labour promises UK steel industry will be ‘backed not abandoned’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Sir Keir Starmer will visit …

Sunak accused of ‘rushed’ Tata Steel deal leaving 3,000 jobs at risk
1 year, 3 months ago

Sunak accused of ‘rushed’ Tata Steel deal leaving 3,000 jobs at risk

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Shadow chancellor Rachel Reeves said: “This rushed deal at …

Around 3,000 jobs at risk at UK’s biggest steelworks despite government-backed package of support
1 year, 3 months ago

Around 3,000 jobs at risk at UK’s biggest steelworks despite government-backed package of support

Associated Press  

LONDON — Around 3,000 workers at Britain’s biggest steelworks face the prospect of losing their jobs as part of a government-backed package Friday to make the plant “greener.” The British government confirmed widespread speculation that it will pump up to 500 million pounds into the loss-making Port Talbot steelworks in south Wales, money it says will safeguard the future of …

Tata Steel Stock Gains Over 4 Per Cent Amid Reports To Secure Funds For UK Plant
1 year, 4 months ago

Tata Steel Stock Gains Over 4 Per Cent Amid Reports To Secure Funds For UK Plant

ABP News  

Tata Steel stock jumped over 4 per cent on Monday following a news report said that the company is in advanced talks to secure funds for its UK plant. The steel major is in advanced discussion with the UK government for around GBP 500 million in state-backed funding to support its Port Talbot plant, securing thousands of jobs in the …

Tata Steel is reconsidering Dutch hydrogen plans: FD
1 year, 5 months ago

Tata Steel is reconsidering Dutch hydrogen plans: FD

Dutch News  

Tata Steel in IJmuiden is reconsidering how to make its plant more sustainable and is looking at several scenarios including one that does not use green hydrogen, the Financieele Dagblad said on Friday. In 2021, Tata announced its intention to switch to production using hydrogen instead of coal, following years of concern about pollution generated by the factory. The FD …

Tata Steel plans ₹16,000 crore consolidated capex in FY24; check details
1 year, 6 months ago

Tata Steel plans ₹16,000 crore consolidated capex in FY24; check details

Live Mint  

Industry giant Tata Steel is planning a consolidated capital expenditure of ₹16,000 crore for its domestic and global operations during the current financial year, according to its top management, according to news agency PTI. Out off the planned amount, Tata Steel has earmarked ₹10,000 crore towards standalone operations and ₹2,000 crore for its subsidiaries in India,said the company's CEO & …

Treasury ‘considering plans to inject £300m into struggling British Steel’
1 year, 11 months ago

Treasury ‘considering plans to inject £300m into struggling British Steel’

The Independent  

The Government is considering a plan to funnel nearly a third of a billion pounds towards British Steel to save the struggling metal maker from collapse. It could also save the Government an even bigger bill should British Steel collapse, the broadcaster said. Sky said that the funding will be linked directly to attempts to get British Steel to decarbonise, …

Decision on subsidies for Tata steel plants a matter for next PM – Buckland
2 years, 5 months ago

Decision on subsidies for Tata steel plants a matter for next PM – Buckland

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy It is “only right” that …

Fears over future of Tata steel plants amid Government support impasse
2 years, 5 months ago

Fears over future of Tata steel plants amid Government support impasse

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. No steel plant in the world has decarbonised their …

Tata Steel to invest ₹12,000 crore in FY23 on India, Europe operations: CEO Narendran
2 years, 5 months ago

Tata Steel to invest ₹12,000 crore in FY23 on India, Europe operations: CEO Narendran

The Hindu  

Tata Steel has planned capital expenditure of ₹12,000 crore on its India and Europe operations during the current financial year, the company's Chief Executive Officer T.V. The domestic steel major plans to invest ₹8,500 crore in India and ₹3,500 crore on the company's operations in Europe, Mr. Narendran, who is also the managing director of Tata Steel, told PTI in …

Tata Steel unveils green investment plan for U.K. steel tube mill
2 years, 6 months ago

Tata Steel unveils green investment plan for U.K. steel tube mill

The Hindu  

Tata Steel has unveiled a 7-million pound investment plan for its Hartlepool Tube Mill in north-east England that the Indian steel major says will cut carbon emissions, improve capacity and reduce costs to strengthen its U.K. business. The investment will go into a new slitter which will allow the Hartlepool site to process coils of steel delivered from Tata’s Port …

Tata Steel to invest ₹3,000 crore in Jharkhand in next 3 years to expand capacities
3 years, 4 months ago

Tata Steel to invest ₹3,000 crore in Jharkhand in next 3 years to expand capacities

The Hindu  

Domestic steel giant Tata Steel on Saturday expressed commitment to invest ₹3,000 crore in Jharkhand in the next three years to augment capacities. "Tata Steel plans to invest ₹3,000 crore in the next three years in Jharkhand with expansion of capacities of coal and iron ore mines and downstream value added steel portfolio," Chanakya Choudhary, vice president - Corporate Services, …

Gupta should keep Liberty Steel despite ‘opaque financing’, minister says
3 years, 5 months ago

Gupta should keep Liberty Steel despite ‘opaque financing’, minister says

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Steel tycoon Sanjeev Gupta should …

Liberty Steel: Government should consider all options to prevent ‘urgent and worrying’ situation, says Ed Miliband
3 years, 9 months ago

Liberty Steel: Government should consider all options to prevent ‘urgent and worrying’ situation, says Ed Miliband

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The government should consider all …

Tata Steel may turn a corner after subsidiary shows recovery on track
4 years, 2 months ago

Tata Steel may turn a corner after subsidiary shows recovery on track

Live Mint  

The steel sector is building up a case for a turnaround after a dull first quarter. The decent jump in volumes in Tata Steel BSL Ltd led it to post a sharp recovery in the September quarter and return to profitability. That is also expected to reflect in Tata Steel’s sales performance, with the steel major’s domestic volumes shooting up …

Tata Steel proposes 1 billion pound UK rescue: Report
4 years, 5 months ago

Tata Steel proposes 1 billion pound UK rescue: Report

Live Mint  

Tata Steel has proposed that the U.K. government invest more than 900 million pounds to take a stake in its British operations and protect the Port Talbot steelworks in Wales. Tata Steel Ltd. has proposed that the U.K. government invest more than 900 million pounds to take a stake in its British operations and protect the Port Talbot steelworks in …

Tata Steel's sale of building systems unit stalls: Report
4 years, 5 months ago

Tata Steel's sale of building systems unit stalls: Report

Live Mint  

LONDON: Tata Steel has laid aside plans to sell its Building Systems unit, which makes cladding and insulation panels, two sources close to the matter said, citing uncertainty in the industry that was aggravated by the coronavirus crisis. {{^adFree}} {{/adFree}} Tata Steel late last year hired French investment bank Credit Agricole to help find a buyer for the business operating …

Hopes grow of £500m rescue for Tata Steel
4 years, 6 months ago

Hopes grow of £500m rescue for Tata Steel

The Telegraph  

Britain’s biggest steelmaker Tata Steel is on the brink of securing a £500m taxpayer bailout as it fights to survive the global economic meltdown. Part of Indian conglomerate Tata Group, the company runs the giant Port Talbot steelworks in South Wales which is seen as a key strategic reserve and supports many thousands of supply chain jobs. Support for Tata …

Union calls for Tata Steel strike after Dutch boss leaves in alleged row
4 years, 7 months ago

Union calls for Tata Steel strike after Dutch boss leaves in alleged row

NL Times  

Workers from Tata Steel Netherlands 's steel plant in IJmuiden walked off the job on Monday in support of their boss after it was announced that much-admired Theo Henrar will be stepping down from his position as chairman in an alleged case of dismissal. In November of last year, Tata Steel Europe, parent company of TSN, announced that 1,600 jobs …

Tata Steel seeks 500 million pounds govt bailout in UK
4 years, 8 months ago

Tata Steel seeks 500 million pounds govt bailout in UK

India TV News  

Tata Steel's UK arm is seeking an estimated 500-million pounds government financial package to survive through the coronavirus lockdown period, according to UK media reports. Tata Steel, which owns the UK's largest steelworks in Port Talbot in Wales, is holding discussions with the Welsh government as well as the UK Treasury as it seeks the 50-million pounds cap set on …

Tata Steel confirms 1,000 job cuts in UK as talks with workers kick off
5 years, 1 month ago

Tata Steel confirms 1,000 job cuts in UK as talks with workers kick off

India TV News  

Tata Steel Europe said it had begun consultations with the European Works Council on Wednesday on restructuring plans for its business, which would include up to 3,000 job losses – 1,000 of which will be in the UK. “As part of the comprehensive set of proposals, Tata Steel Europe intends to lower employment costs,” the company statement said. Tata Steel …

Tata Steel to cut 3,000 European jobs in ‘devastating blow’ to workforce
5 years, 1 month ago

Tata Steel to cut 3,000 European jobs in ‘devastating blow’ to workforce

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Plans by Tata Steel to …

Tata Steel plans to cut 3,000 jobs across Europe as crisis bites
5 years, 1 month ago

Tata Steel plans to cut 3,000 jobs across Europe as crisis bites

Live Mint  

Tata Steel Ltd. plans to axe about 3,000 jobs across its European operations to cut costs in the latest blow to the region’s industry. The company didn’t give a detailed breakdown of where the job losses would take place “Stagnant EU steel demand and global overcapacity have been compounded by trade conflicts, which have turned the European market into a …

Tata Steel unveils cost-cutting plans for Europe business, including job cuts
5 years, 1 month ago

Tata Steel unveils cost-cutting plans for Europe business, including job cuts

The Hindu  

Tata Steel on Monday unveiled restructuring and cost-cutting plans for its Europe business, including job cuts, to arrest the decline in profitability of the business. The Indian steel major said the changes were needed to ensure the business can thrive despite severe market headwinds and also accelerate innovation towards carbon-neutral steelmaking. “Today we are highlighting important proposals towards building a …

Tata Steel set to cut 2500 jobs across Europe
5 years, 2 months ago

Tata Steel set to cut 2500 jobs across Europe

Live Mint  

Mumbai: Tata Steel, India's largest private sector steelmaker, is likely to cut about 2,500 jobs across its struggling European operations, or a quarter of its European workforce, Dutch media outlet NH Niuews reported. To a query from Mint, a spokesperson for Tata Steel said, “like all European steelmakers, Tata Steel Europe continues to experience challenging market conditions, made worse by …

British Steel collapses putting thousands of jobs at risk
5 years, 7 months ago

British Steel collapses putting thousands of jobs at risk

CNN  

London CNN Business — Britain’s second biggest steel maker collapsed on Wednesday, putting about 5,000 jobs at the company directly at risk, and threatening another 20,000 at suppliers. British Steel was reportedly seeking a government loan of £75 million to cover losses it suffered because orders from the European Union had evaporated due to the uncertainty surrounding Brexit. British Steel, …

Tata Steel likely to offer parts of European packaging assets in Thyssenkrupp JV talks: Report
5 years, 9 months ago

Tata Steel likely to offer parts of European packaging assets in Thyssenkrupp JV talks: Report

Firstpost  

Offering some packaging steel assets would address one of the areas that have been singled out by the European Commission in its review Frankfurt: Tata Steel will likely offer parts of its European packaging activities in a bid to seek regulatory approval for a planned joint venture with Germany’s, three people familiar with the matter told Reuters. Offering some packaging …

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