Tata Steel UK

The company will also consider investing in direct iron recovery technology under certain conditions

As a result, 2.8 thousand jobs will be lost, 2.5 thousand of them within the next 18 months

The announcement was supposed to refer to staff reductions and the closing of two blast furnaces

The company wants to close the blast furnaces, workers worry about job cuts

The funds are intended to assist in the decarbonisation of production in Port Talbot

The funding is earmarked for a steel plant in Port Talbot

The company notes that the service life of one of the blast furnaces is coming to an end in a year

The company expects subsidies from the UK to decarbonize the steel plant in Port Talbot

The products are mainly intended for the company's distribution centers

The company expects to receive financial support from the British government within 12-24 months

The parties are still considering the request for an aid package

The company seeks to learn about the details of steel support by July 2023