LONDON: Britain said
on Monday it was in talks with steel makers, including British Steel,
owned by China's Jingye Group, and India's Tata to help secure the
industry's long-term future.
The government said British Steel had agreed to maintain current operations and
job numbers while the talks were under way.
Sky News reported earlier on Monday that Business Secretary Jacob Rees-Mogg had
written to Jingye Group to express a willingness to negotiate over the Chinese
company's request for a bailout to avoid thousands of job losses.
Jingye, which bought British Steel out of insolvency in 2020, had told the
government that its two blast furnaces at its Scunthorpe steelworks were
unlikely to be viable without government aid, Sky News reported earlier this
month.
A government spokesperson said: "We are working across the steel sector on
achieving their sustainable and competitive long-term future.
"We recognise that businesses are feeling the impact of high global energy
prices, particularly steel producers, which is why we announced the Energy Bill
Relief Scheme to bring down costs."
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