China’s privately owned steelmaker Jingye Steel has stated that it will seek “prompt, adequate and effective” compensation from the UK government for its investment in British Steel after the government assumed operational control of the company, according to a report by Reuters.
The UK government took control of British Steel in April 2025, citing national security grounds, and Prime Minister Keir Starmer announced in May that the government could proceed with full nationalization of the business.
Compensation request remains unanswered
Jingye issued its first public statement on the matter last month, approximately 14 months after the UK government took control of its British subsidiary. The company stated that it has not yet received any substantive response from the UK government regarding its compensation request. It described the government’s actions, from the forced takeover to the proposed full expropriation, as demonstrating the value of British Steel.
The company completed the acquisition of British Steel in 2020 and stated that it has since made substantial investments in equipment upgrades, job protection and the company’s green transition. The company said it is determined to pursue full recovery of those investments without compromise.
