Indian Steel giant Tata Steel's European subsidiary Corus has announced on August 16 that it will invest £185 million into the No 4 Blast Furnace at Port Talbot steelworks in Wales.
The furnace is to undergo a rebuild, starting in July 2012, which will equip it with technology to improve its safety, environmental performance and reliability. The project will yield the additional benefit of balancing the iron and steel-making capacities at Port Talbot, increasing the capacity of the two blast furnaces by up to 400,000 mt per year.
Corus MD & CEO of Tata Steel Europe, Kirby Adams said: "This investment is a major step in achieving Tata Steel's ambition to position Port Talbot as a producer of high-quality strip products on a global scale and an internationally competitive cost base."
David Ferris, Chairman of the Multi Unions at Port Talbot, said: "This is a massive boost for the area. Following our recent announcement that we are taking on some 150 young people, this news promises them a strong future - and a sustainable future for the whole community."