British Steel's Future Uncertain as Jingye Rejects £500m Green Transition Aid

The Chinese owner demands £1bn in funding, leaving the Scunthorpe blast furnaces—the UK's last virgin steel facility—at risk of closure.

Jingye Group, British Steel's Chinese owner, has rejected a £500m UK government aid package for transitioning to greener electric arc furnaces.
The company is demanding £1bn or more, double the funding offered, citing the scale of investment needed for decarbonisation.
The Scunthorpe site, the UK's only facility capable of producing virgin steel, faces an uncertain future, threatening thousands of jobs.
The UK government is evaluating the national security implications of maintaining domestic virgin steel production as negotiations continue.
British Steel's transition to green steel production is part of the government’s broader £2.5bn Plan for Steel aimed at meeting net-zero goals.