Tata Steel is exploring plans to close two blast furnaces at its Port Talbot steelworks in Wales and replace them with electric arc furnaces as part of plans to acquire millions of pounds via a UK government coronavirus bailout fund, according to a UK media report.
The Indian steel giant and sister company, Tata Motors owned Jaguar Land Rover (JLR), are trying to obtain state support via the Project Birch fund, which was set up to help big, strategically important companies that have been crippled by the Covid-19 pandemic, The Sunday Times' reports.
Under the proposal, which is reportedly being