The UK government announced that £500 million has been allocated to be used at the Port Talbot facility in Wales, operated by Tata Steel.
In the statement made on the official website of the UK Ministry of Finance, it was stated that the incentive was provided for the company to use it in the environmentally friendly modernization of its steel production facility in Wales.
“The government has accepted a proposal from Tata Steel to invest in greener steel production in Port Talbot, protecting the future of steel production and skilled jobs in Wales,” the statement said. The statement was included.
In the statement, it was noted that the aim is to reduce carbon emissions in the country by 1.5 percent with the environmentally friendly steel production model that will be encouraged.
It was also noted in the statement that the employment positions of approximately 8 thousand people working in steel production were protected with the financing allocated for the facility, and that Tata Steel is expected to invest approximately 750 million pounds for the modernization in question.