Tata Steel has signed a Euro 500 million Grant Funding Agreement with the UK Government allowing it to proceed at pace with the project to install a state-of-the-art Electric Arc Furnace at the Port Talbot steelworks in Wales.

As the largest investment in the UK steel industry for decades, the Euro 1.25 billion project will safeguard UKs steel sovereignty, secure steel making in Port Talbot and preserve 5,000 jobs. The new assets will reduce the UKs entire industrial carbon emissions by 8% (and Port Talbots by 90%) while setting a benchmark in circularity, utilising UK scrap.

Alongside its planned Euro 750 million investment, Tata Steel has put its significant global engineering and project capabilities behind this project, which will benefit from an additional Euro 500 million in UK Government Grant Funding.

This is one of the largest industrial transition projects in the UK and its implementation has been enabled by the responsible approach of Tata Steels workforce, the UK Steel Committee representing the trade unions, and support of the UK Government.

Tata Steel, the flagship company of the Tata group, is the first integrated steel plant in Asia and is now the worlds second most geographically diversified steel producer.