Construction Mirror Article detail

Tata Steel is expected to close two blast furnaces and other heavy assets at Port Talbot by the end of the year, which will result in the loss of 2,800 jobs over the next three years. Tata Steel, one of the foremost steel producers in the region, made an announcement last year that it would be implementing electric arc furnaces for its steel production, requiring an investment of £1.25 billion, of which the UK government will provide funding of £500 million.

“The path we are taking is difficult, but we believe it is the right one," chief executive officer and managing director TV Narendran said. “We believe that this proposed restructuring will have a major impact on the individuals and communities concerned, which we will support with dignity and respect,” he said.

Tata Steel employs approximately 8,000 individuals across its operations in the UK, and is expected to provide a support package of more than £130 million to those who are likely to lose their jobs.