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The UK government says it has reached a "new and improved deal" with Tata Steel, confirming it will give a £500m grant to the company. The money will go towards the cost of building a greener electric furnace in Port Talbot,

MUMBAI: The UK govt will give 500 million pounds to Tata Steel to construct a greener electric furnace at the Port Talbot site in Wales, with the Indian company paying 750 million pounds. While the previous UK govt led by the Conservative party had agreed to give 500 million pounds to Tata Steel,

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As the largest investment in the UK steel industry for decades, the £1.25 billion project will safeguard UK’s steel sovereignty, secure steel making in Port Talbot and preserve 5,000 jobs.

The UK government has awarded Tata Steel Ltd a £500 million grant for its green steel project in Port Talbot. This investment will help reduce emissions, replace outdated blast furnaces, and foster economic growth and job creation in South Wales.

The UK government is expected to confirm a £500 million support package for Tata Steel’s Port Talbot plant. Business Secretary Jonathan Reynolds will announce the details in the House of Commons. The funding aims to save jobs as Tata Steel transitions to greener electric arc furnaces,