The UK Competition and Markets Authority’s Subsidy Advice Unit (SAU) has announced that it will create a report into the proposed £500 million funding for Tata Steel UK’s, subsidiary of Indian steel producer Tata Steel, following a request from the Department for Business and Trade (DBT). The UK government agreed to provide funding of £500 million for the decarbonization of Tata Steel UK’s Port Talbot plant, as SteelOrbis previously reported.
The SAU will prepare a report, which will provide an evaluation of DBT’s assessment of whether the subsidy complies with the subsidy control requirements. The report will be completed within 30 working days.
Tata Steel UK will invest of a total of £1.25 billion for a new electric arc furnace for green steel production at the plant, replacing blast furnaces, as SteelOrbis previously reported.
