Tata to spend £60m on steel site
INDIAN conglomerate Tata yesterday gave the biggest indication yet that the future of the Port Talbot steelworks is secure after making a £60m investment in the plant.
The investment by subsidiary company, Corus Strip Products UK, will be made in energy management technology at Port Talbot steelworks.
It will reduce carbon dioxide emissions at the site through the reuse of gas generated inside the Basic Oxygen Steel plant.
The investment is Port Talbot’s largest since Corus’s acquisition by Tata Steel in April last year.
Robert Bizzell, acting managing director, said, “This is a significant vote of confidence by the Corus Board and also by our new owners.
“This investment will play a significant part in creating a sustainable steel industry here in Wales.”
Full Story- icWales
Posted: February 5th, 2008 under Steel News.
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