statement from the Welsh Department of Foreign
Affairs on Monday said the funds from the Tata Steel/Port Talbot Transition
Board fund will support local businesses that are heavily reliant on Tata
Steel.
The
UK government said that it has started supporting those affected by Tata Steel
UK’s decarbonisation process with the release of an initial £13.5 million (Rs
142.06 crore), which will also be available to affected workers to enable them
to retrain or acquire new skills for the labour market.
A
statement from the Welsh Department of Foreign Affairs on Monday said the funds
from the Tata Steel/Port Talbot Transition Board fund will support local
businesses that are heavily reliant on Tata Steel as a major customer and
enable them to move to new markets and customers where appropriate.
At
a meeting last week, the board discussed how the funds would be allocated,
monitored and evaluated to ensure “value for the taxpayer”. “This funding is an
important step in supporting workers affected by the transition at Tata Steel
and businesses in the wider supply chain,” said Jonathan Reynolds, UK Secretary
of State for Business and Trade.
“We
are working in partnership with unions and industry to ensure a green
transition of the steel sector that benefits the economy, our talented
workforce and local communities for generations to come, and our negotiations
with Tata are ongoing,” he said.
Last
week, Tata Steel UK’s transition committee was briefed on the company’s
decarbonisation project and how the company will support those affected.
Welsh
Minister Jo Stevens announced that