Tata Steel to proceed with £1.25 bn investment in Port Talbot
Tata’s plan involves replacing the blast furnaces, which produce molten iron from iron ore, with electric arc furnaces
Tata’s plan involves replacing the blast furnaces, which produce molten iron from iron ore, with electric arc furnaces
The credit rating agency also changed the company's outlook to 'stable' from 'positive'.
The proposed project would involve Tata Steel’s balance sheet being restructured with potential elimination of the current cash losses in the UK operations