Overview

• The UK government will contribute £500 million towards the construction of an electric arc furnace at the Port Talbot plant.
• Tata Steel will invest £750 million in the project, aimed at reducing carbon emissions and modernizing production.
• The transition will lead to the loss of 2,500 jobs, despite improved redundancy and reskilling packages for affected workers.
• The new electric arc furnace is expected to be operational by 2027, significantly reducing the plant's carbon footprint.
• Unions have expressed mixed feelings, acknowledging improvements in the deal but lamenting the job losses.