LONDON (Reuters) - There are solutions to the high pension fund liability at the steel plant at Port Talbot in Wales that would not involve public money, Bimlendra Jha, the chief executive of Tata Steel UK, said on Thursday.
The government has said it is working with the pension scheme trustees of Tata Steel to reduce the impact on any purchaser, including whether it could separate the scheme from the business.
Jha said without action to solve Port Talbot's pension fund liability, there would be no buyer for the steel plant.
(Reporting by William James, writing by Elizabeth Piper; editing by Kate Holton)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app