A new deal for Port Talbot’s steel workers has been agreed between the government, Tata Steel and trade unions – which the Business Secretary said will give “hope” for Wales’ steelmaking industry.
The deal includes a comprehensive training programme for staff at risk of compulsory redundancy, and Tata Steel anticipates that 500 new jobs will be created in the construction of the Electric Arc Furnace.
It is expected to come at no additional cost to taxpayers, with the government’s construction contribution remaining at 500 million.
Business and Trade Secretary Jonathan Reynolds said: “Port Talbot has always been and will always be a steelmaking town. This deal does what previous deals failed to do – give hope for the future of steelmaking in South Wales.
“Steel is fundamental to the UK’s economy, sovereignty, and communities, but previous government inaction has blighted the steelmaking industry.
“That’s why this government is taking strong action through a new deal and strategy which will reverse the industry’s stagnation and set out a long-term vision for a bright and sustainable future.”
Tata Steel is also expected to release 385 acres of their site for redevelopment.
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