Tata Steel Signs £500 Million Grant Funding Agreement for £1.25 Billion Green Steel Project in Port Talbot

Tata Steel Limited has announced that it has signed a £500 million Grant Funding Agreement with the UK Government for a £1.25 billion project to install a state-of-the-art Electric Arc Furnace at the Port Talbot steelworks in Wales. This is the largest investment in the UK steel industry for decades, aiming to safeguard the UK’s steel sovereignty, secure steel making in Port Talbot, and preserve 5,000 jobs. The new assets will reduce the UK’s entire industrial carbon emissions by 8% and Port Talbot’s by 90%, while setting a benchmark in circularity by utilizing UK scrap. Tata Steel plans to invest an additional £750 million, with the project expected to commence large scale site work around July 2025, and the EAF becoming operational within three years.