The British government and Tata Steel on Friday announced a 1.25-billion-pound package, or about $1.6 billion, to cut emissions and financial losses at Tata’s steel mill — the country’s largest — at Port Talbot in Wales, potentially putting many of the plant’s 4,000 jobs at risk.
The government said the package would help clean up a site that it said was Britain’s largest emitter, reducing the country’s overall carbon emissions by 1.5 percent, and would ultimately preserve thousands of jobs.
It will provide £500 million, with Tata contributing £750 million.
A union that represents the bulk of steel production workers in Britain said the arrangement risked falling short of the stated goals.
While Tata says the plan would “preserve significant employment,” it is not guaranteeing jobs and has been losing money on its British operations for years.
Persons:
Kemi
Organizations:
British, Tata Steel, Tata
Locations:
Port Talbot, Wales, Kemi Badenoch, Britain