The Transition Board has announced £13.5 million in funding to support supply chain businesses and workers affected by Tata Steel’s decision to transition to greener steelmaking.
The Port Talbot Transition Board has met for the second time under new Chair, Welsh Secretary Jo Stevens MP.
The meeting saw the announcement of £13.5 million in funding to support supply chain businesses and workers affected by Tata Steel UK’s decision to transition to greener steelmaking and a more sustainable business.
"Money will also be available to workers affected by the transition, helping them to find new jobs, access training and gain skills and qualifications in areas where there are vacancies."
The funding is the first release from the Government's £80 million contribution to the Transition Board fund, which will support local businesses that are heavily reliant on Tata Steel as their primary customer, allowing them to turn towards new markets and customers where necessary.
The Board also announced that more than 50 businesses so far have signed a pledge to support any workers who leave their jobs in the steelworks.
The businesses, which include Fintech Wales, The Royal Mint, Cardiff Metropolitan University, RWE Energy, Ledwood Mechanical Engineering and Pro Steel Engineering, have committed practical support for workers ranging from guaranteed interviews, to providing training and coaching.
Welsh Secretary Jo Stevens said: “Today’s release of an initial £13.5m in funding demonstrates that we will act decisively to support workers and businesses in Port Talbot, working with Welsh Government, unions and the wider community.
“We are also harnessing the generosity of the local community, with dozens of employers so far pledging practical support for workers. Steelmaking is the lifeblood of communities in Wales, but so too is the support of local businesses. What they are offering will make a real difference to suppliers and staff.”
Tata Steel UK’s CEO, Rajesh Nair, said: “The Transition Board plays a very important role in supporting the transformation of our business to low-CO2 steelmaking and encouraging regeneration and inward investment to the area, whilst helping to mitigate the impacts those changes may have on our people, our supply chain and our communities.
"Today’s announcement and the ambition to help the region and local communities grow in line with the changing needs of the developing industrial ecosystem here in South Wales, is very much welcomed.”
“The Transition Board has been set up to support both Tata Steel employees and those in local supply chain companies, so today’s announcement and the ambition to help the region and local communities grow in line with the changing needs of the developing industrial ecosystem here in South Wales, is very much welcomed.”
More details will be released soon on how local businesses and affected workers can access the initial £13.5m Transition Board funding.
Businesses and individuals can register an interest in the funds or send any enquiries to the following email address: tsukqueries@npt.gov.uk
NOTES TO EDITORS
Businesses and individuals can register an interest in the funds or send any enquiries to the following email address: tsukqueries@npt.gov.uk
Tata Steel announced proposals in September 2023 to invest £1.25 billion, including a UK Government grant worth up to £500 million, to enable greener steel production at Port Talbot.
A Transition Board to support the people, businesses and communities affected by the proposed transition to low-CO₂ steelmaking, was established in October 2023.
About Tata Steel UK
- The Tata Steel Group has been named one of the most ethical companies in the world, and is among the top producing global steel companies with an annual crude steel capacity of 34 million tonnes.
- Tata Steel in the UK has the ambition to produce net-zero steel by 2045 at the latest, and to have reduced 30% of its CO2 emissions by 2030.
- Tata Steel is the largest steelmaker in the UK with primary steelmaking at Port Talbot in South Wales supporting manufacturing and distribution operations at sites across Wales, England and Northern Ireland as well as Norway, Sweden, France and Germany. It also benefits from a network of international sales offices around the world.
- Tata Steel employs more than 8,000 people and has an annual crude steel capacity of 5 million tonnes, supplying high-quality steel products to demanding markets, including construction and infrastructure, automotive, packaging and engineering.
- Tata Steel Group is one of the world's most geographically-diversified steel producers, with operations and a commercial presence across the world.
Follow us on social media
Categories
For further information