Rs. 12,865 crore deal between Tata-Steel and UK-government: Rs. 5,146 crore grant in this, PM Sunak said – UK’s carbon emissions will be reduced by 1.5%
Tata Steel has signed a joint investment package of 1.25 billion pounds (about Rs. 12,865 crore) with the government of the United Kingdom (UK). Of this, 750 million pounds (about Rs. 7,719 crore) will be investment, while 500 million pounds (about Rs. 5,146 crore) will be government grant. On this deal, PM Rishi Sunak said that this deal has been done to save thousands of jobs and the steel industry of Britain.
This investment will reduce UK’s carbon emissions by 1.5%
This investment will be made at Port Talbot. Which will modernize production with electric arc furnace steel making. Due to which the carbon emissions of the entire Britain will reduce by about 1.5%. Prime Minister Rishi Sunak described this deal as a big day for UK Steel.
Rishi Sunak said- made this deal to save thousands of jobs
On this deal, Rishi Sunak said, ‘We have agreed on an investment of 1 billion pounds with Tata Steel. This decision has been taken to save the jobs of thousands of people and also secure the future of Wales’ steel industry. He said, this deal is the second deal after the deal of 4 billion pounds i.e. about Rs 41,166 crore signed with Tata Steel in July.
Tata Steel Chairman N Chandrasekaran said- It will help in developing green technology based industrial ecosystem.
On this deal, Tata Steel Chairman N Chandrasekaran said that this agreement with the UK government is a big moment for the future of the steel industry. He said, this investment will increase employment opportunities and help in developing green technology based industrial ecosystem in South Wales.
Business and Trade Secretary said- US economy will grow with this deal.
UK Business and Trade Secretary Kemi Badenoch said that this is a historic package from the government. He said, this will not only save skilled jobs in Wales but will also grow the US economy.
Finance Minister Jeremy Hunt said- this deal is a landmark moment
Britain’s Finance Minister Jeremy Hunt said that this proposal is a landmark moment in maintaining UK steel production growth, supporting sustainable economic growth, reducing emissions and creating jobs. “We are taking action to support this world-class manufacturing industry and promote green growth in South Wales,” Hunt said.
