Tata Steel still trying to get financial aid package from UK government

17 Apr 2023 , 07:32 AM

According to T V Narendran, the CEO of the firm, Tata Steel is still pursuing its request for the financial package with the UK government. In response to an inquiry about his position towards leaving the UK business, Narendran, who is also the Managing Director of Tata Steel, made the comments.

On the sidelines of an event in the nation’s capital, he told PTI, ‘Tata Steel is still pursuing it (the request) with the administration there (UK).

The desire for a financial package has not been resolved, he claimed.

The largest steelworks in the UK, at Port Talbot in South Wales, is owned by Tata Steel, which has its headquarters in India and employs about 8,000 people nationwide.

To carry out its decarbonization goals, the business has asked the UK government for 1.5 billion pounds.

The British government, however, submitted a counteroffer earlier this year that was significantly below what the firm had anticipated.

According to Narendran, Tata Steel cannot envision its future in the UK without the backing of the local authorities.

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