Tata Steel offers UK taxpayers 50% stake in Port Talbot plant: Report

The proposal for the government to take an equity stake and in effect part nationalise the plant is said to be one of the options under discussion.

Tata Steel is reportedly offering the British taxpayer a 50 per cent stake in its Port Talbot steelworks in Wales as part of efforts to secure government backing to secure the future of the business in the wake of the coronavirus pandemic lockdown.

According to 'Sky News', the Indian steel major is seeking GBP 900 million from the UK government's Project Birch fund, which was set up to provide state support for strategically important businesses crippled by the pandemic.

The proposal for the government to take an equity stake and in effect part nationalise the plant is said to be