British Steel - Latest news GMK Center

The company will seek a settlement under the investment agreement between the UK and China

The United Kingdom plans to fully nationalize British Steel, which is formally owned by the Chinese company Jingye

£419 million in taxpayer funds has already been spent to support the business

The company's current operations are already costing the government £1.3 million a day

An investor is ready to invest hundreds of millions of pounds and create the largest steel company in Britain

Control over the company could be taken over in the coming weeks

The British regulator expects costs to reach £615 million by June of this year

The government hopes to find a private buyer for the company, which technically still belongs to the Chinese group

No decision has yet been made regarding the future of the steel company

The company was looking for ways to avoid the threat of US steel tariffs if quotas were agreed

The funds are being used to cover raw materials, salaries, and the company's debts

The parties' estimates of the Scunthorpe plant differ significantly