Britain and Tata Agree to $1.6 Billion Package for Steel Mill

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Business|Britain and Tata Agree to $1.6 Billion Package for Steel Mill https://www.nytimes.com/2023/09/15/business/britain-tata-steel-package.html Advertisement SKIP ADVERTISEMENT The plan aims to cut both emissions and financial losses at Britain’s largest steel mill, but a union says it will also put many jobs at risk.
Credit...Geoff Caddick/Agence France-Presse — Getty Images The British government and Tata Steel on Friday announced a 1.25-billion-pound package, or about $1.6 billion, to cut emissions and financial losses at Tata’s steel mill — the country’s largest — at Port Talbot in Wales, potentially putting many of the plant’s 4,000 jobs at risk.
The government said the package would help clean up a site that it said was Britain’s largest emitter, reducing the country’s overall carbon emissions by 1.5 percent, and would ultimately preserve thousands of jobs.
More about Stanley Reed A version of this article appears in print on Sept. 16, 2023, Section B , Page 4 of the New York edition with the headline: Britain and Tata to Spend $1.6 Billion on Steel Plant.