Indian steel producer Tata Steel may shut the Port Talbot steelmaking site of its subsidiary Tata Steel UK, as the UK government has not responded to the company’s call for financial help totaling £1.5 billion for reducing carbon emissions, according to media reports.
Port Talbot currently operates using natural gas and coal and requires large investments to replace the blast furnace route with steelmaking through electricity or hydrogen. The company has been in negotiation with the government for the green transition of its plant over the last two years and has stated that it will cover half of the needed investment of £3 billion. However, if the government and the company do not reach an agreement on financial support within a year Tata Steel will have to shut down the plant, the company stated.
