UK Govt Grants 500 Million Pound For Tata Steel Port Talbot Plant Decarbonisation

The United Kingdom and Tata Steel on Friday announced a joint investment package worth 1.25 billion pounds, including a government grant of 500 million pounds, for the country's largest steelworks in Wales. Dubbed as one of the "largest" UK government support packages in history, the investment at the Port Talbot would modernise production with state-of-the-art Electric Arc Furnace steelmaking and reduce Britain's entire carbon emissions by around 1.5%.

Reacting to the development, British Prime MinisterPrime MinisterPrime Minister Rishi Sunak called it "a big day for UK steel".

"We've agreed a joint 163;1 billion investment with Tata Steel to save thousands of British jobs and secure the future of the steel industry in Wales. This follows the 163;4 billion investment we secured from Tata Group in July to create 4,000 jobs," Mr Sunak posted on X (formerly known as Twitter).

"It will not only protect skilled jobs in Wales but also grow the UK economy, boost growth and help ensure a successful UK steel industry," she added.