Tata Steel UK, a subsidiary of India-based steelmaker Tata Steel Limited, has stated that it will stick to its plan to close current heavy end assets at its Port Talbot plant and restructure it despite the current political turmoil in the UK.
The company pointed out that they are concerned about local media reports, which suggest that the ongoing election period may put the £500 million of governmental support for the electric arc furnace (EAF) project at risk. The project in question is designed to ensure low-emission steel production at Port Talbot, with a potential for green steel production in the future. Therefore, the management of Tata Steel UK has urged the current and incoming government to stay the course with the agreed terms.
In the meantime, the company said that the lifespan of the current assets is about to end and that the equipment is unstable. Accordingly, it will go ahead to decommission its blast furnace No. 5 in late June and the blast furnace No. 4 by the end of September this year. Also, the downstream assets will continue to serve its customers by meeting its requirements through imported semi-finished steel until the new EAF is built and commissioned.