UK Prime Minister David Cameron said that his government will do everything in its power to enable Sahaviriya Steel Industries UK (SSI), the UK-based subsidiary of the Thai steelmaker Sahaviriya Steel Industries Public Company Limited, to maintain its operations at its Redcar plant located in Teesside, northern England, according the UK media reports.
Sahaviriya Steel Industries UK reportedly missed several loan repayments worth a total of £80 million in June and was given a stay of execution until the end of September. Company’s financial problems raised concerns over 2,000 jobs in Redcar plant.
Redcar is the second largest blast furnace in Europe, with an annual capacity of 3.5 million mt per year.