India-based global steel giant Tata Steel will invest up to £800 million over the next five years in the Welsh steel industry, according to media reports.
After meeting the vice chairman of Tata Steel, B Muthuraman, within the scope of a trade mission to India, Carwyn Jones, First Minister of Wales, stated that the significant investment will be used to improve production, product mix, quality and product range at Tata Steel's Welsh plants including Port Talbot and Shotton.
As SteelOrbis previously reported, Tata Steel already announced a £185 million project in November 2011 to rebuild Port Talbot's blast furnace No. 4.