Tatas mull exit from UK steel business on lack of government support

Tata Sons is considering Tata Steel's exit from its UK operations because of the absence of support from the British government for transition to green energy

The UK government is unlikely to provide a 1.5 billion pound subsidy package to Tata Sons for the anticipated switch to green energy, the Economic Times reported. As a result, Tata Sons is considering exiting Tata Steel's UK operations. 

According to Tata Sons, in order to keep the factory running, it will be necessary to replace the carbon-intensive blast furnaces with electric arc furnaces over the next few years. Tata Sons doesn't see much use in waiting interminably for assistance from the UK government, which is "sitting on the fence" and is looking at various exit options, sources told ET.