CEO of Tata Steel, T V Narendran, has confirmed that discussions for a financial package are still ongoing with the UK government.
Tata Steel News
Narendran said that the request for a financial package has not yet resulted in a resolution.
In answer to a question about Tata Steel’s plans to leave the UK market, CEO T V Narendran said the company will keep trying to secure a financial package from the UK government.
These remarks were made by company’s Managing Director and CEO, Narendran.
Located at Port Talbot, South Wales, firm is the largest steelworks in the United Kingdom and employs around 8,000 people there and elsewhere.
Proposed financial package with UK Govt.
The firm has asked the UK government for £1.5 billion in funding to back its decarbonization goals.
The counteroffer for a financial package that the UK government made to company earlier this year fell short of the company’s expectations.
T. V. Narendran, comment on TATA Steel,UK
“Firm is still pursuing it (request) with the government there (UK),” he told PTI on the fringes of an event in the nation’s capital.
How much money did Tata Steel seek from the UK government?
Ans. The corporation requested 1.5 billion pounds from the UK government to decarbonize. CEO T V Narendran said Tata Steel is still requesting the financing package from the UK government.
Is Tata Steel still pursuing its request for financial package?
Ans. CEO T V Narendran said the company is still requesting the financing package from the UK government. In response to a query about leaving the UK, the company’s Managing Director Narendran said.
Will Tata invest in Port Talbot?
Ans. Tata has been discussing Port Talbot’s long-term prospects for years. To comply with state assistance requirements, government financing will be connected to environmental initiatives and require corporations to invest in the plants.