The decision to cut up to 3,000 jobs at Tata Steel’s UK operations as part of major restructuring will have far-reaching consequences across the country’s supply chain and underlines the challenges of reconciling economic needs with decarbonisation policies.
Today’s announcement follows a joint agreement to invest in electric arc furnace steelmaking, replacing two coal-fire blast furnaces, which was signed by Tata Steel and the UK Government last September.
The £1.25bn capital cost includes a UK Government grant of up to £500m, subject to relevant regulatory approvals, information and consultation processes. The deal was hailed as a major development in UK industrial decarbonisation, potentially reducing direct emissions by 50 million tonnes over a decade.
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