Indian steel group Tata Steel may close its plant in Port Talbot, the UK’s largest steel mill. Tata has said for some time that government support is needed to keep the blast furnace complex open and wants £1.5 billion to support greening.
Natarajan Chandrasekaran, chairman of parent company Tata Group, says in an interview with the Financial Times that he wants clarification from the government within 12 months. “If that doesn’t happen, we will have to consider closing sites,” he told the business newspaper.
About 4,000 people work for Tata Steel in Port Talbot, Wales. The steel mill used to fall under the same European division as Tata Steel Netherlands, but since last year the Dutch part has become an independent subsidiary within the Indian group.
According to the Financial Times, which is appealing to insiders, Economic Affairs Minister Kwasi Kwarteng wants to help UK steelmakers reduce carbon dioxide emissions. Tata can also get help with this. But the final choices in this area are up to the future prime minister.