The Government will pump up to £500 million into Britain’s biggest steelworks as part of plans to produce “greener” steel – but as many as 3,000 workers are set to lose their jobs.
But the company said on Friday the plans will lead to consultations over a “deep potential restructuring”. The £1.25 billion furnaces are expected to be up and running within three years of getting regulatory and planning approvals.Tata said last year its UK operations were under threat unless it secured Government funding to help it move to less carbon-intensive electric arc furnaces.
The Government said replacing the existing coal-powered blast furnaces at the Port Talbot site will “reduce the UK’s entire carbon emissions by around 1.5%”. Unite general secretary Sharon Graham said: “These plans are disgraceful, short-sighted and lack ambition.