Brief by Shorts91 Newsdesk / 12:18pm on 29 Jan 2024,Monday India Global
Tata Steel, owner of Port Talbot steelworks, plans to defend job cuts and discuss potential UK investment during testimony to MPs. The decision to close two blast furnaces, axing 2,800 jobs, faced criticism. Tata may propose a new plant for direct reduced iron (DRI), a low-emission technology. The company emphasizes openness to further investment with the right conditions. MPs express concern about subsidies following recent financial support. Executives argue Tata's patient investment in UK steelworks since 2007 yielded no profit or dividends. The hearing will explore the impact on the local community and the UK steel sector's future.
