• Saturday, April 13, 2024

Business

Talks still on with UK government on financial package: Tata Steel

Tata Steel owns the UK’s largest steelworks at Port Talbot in South Wales and employs around 8,000 people across all its operations in the country

Tata Steel’s plant at Port Talbot, Wales.(Photo: Getty Images)

By: Chandrashekar Bhat

Tata Steel is still pursuing its request for the financial package with the UK government, the company’s CEO TV Narendran said.

Narendran who is also the managing director of Tata Steel made the remarks in reply to a question on stance on exiting the UK business.

“Tata Steel is still pursuing it (request) with the government there (UK),” he said in New Delhi. There has been no conclusion to the request made for a financial package, he said.

Tata Steel owns the UK’s largest steelworks at Port Talbot in South Wales and employs around 8,000 people across all its operations in the country.

The company had sought £1.5 billion from the UK government to execute its decarbonisation plans.

However, the British government earlier this year made a counter offer which was much lower to the company’s expectations.

Narendran had said that Tata Steel cannot see its future in the UK without the support of the government there.

(PTI)

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