British Steel

The application for another electric arc furnace in Scantop will be considered in the near future

The company will provide communities with details of its £1.25bn decarbonisation plan

It is proposed to replace the domain with two electric arc furnaces on two sites

Jingye Group is aiming for a deal similar to the one with Tata Steel

The transition to electric arc furnaces may lead to the reduction of 2,000 jobs

The closing may take place by the end of 2023, the dates have not been announced

The companies' two plants account for 95% of the UK's steel sector emissions.

Each of the companies will receive grants in the amount of about £300 million ($371 million)

Jingye has only invested £156m of the promised £1.2bn into the business since March 2020

The exact amount Jingye Group is asking is unknown – it could be several hundreds millions of pounds

The increase in energy prices significantly affected the cost of production