![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/139\/590x\/secondary\/4939785.jpg?r=1693662825821\")
<\/p>\n<\/p>\n
The Government could be set to sign off a \u00a3500m aid package to secure the future of steel making in South Wales.<\/p>\n
Sky News reports officials are close to agreeing the aid package with Tata Steel – which would also see the steel producer\u2019s Indian parent company invest \u00a3700m into the Port Talbot site which will secure thousands of jobs.<\/p>\n
As part of the deal, it is thought Tata Steel will also invest \u00a3700m into its Port Talbot site, which employs around 4,000 people.<\/p>\n
The company would reportedly commit to building electric arc furnaces, which offer greener, less labour-intensive ways of producing steel than traditional blast furnaces.<\/p>\n
The company employs around 8,000 people in the UK, with around 3,000 jobs expected to be lost over the long-term.<\/p>\n
\u00a0<\/strong><\/p>\n READ MORE: <\/strong> ULEZ charges night-workers twice on same shift, Khan warned<\/strong><\/p>\n The deal could be finalised by as soon as this month, according to reports.<\/p>\n A Tata Steel spokesman said in a statement issued to Sky News: \u201cTata Steel is continuing to discuss with the UK Government a framework for continuity and decarbonisation of steelmaking in the UK amidst very challenging underlying business conditions, given that several of its heavy-end assets are approaching the end of life.<\/p>\n \u201cGiven the financially constrained position of our UK business, such significant change is only possible with Government investment and support, as also seen in other steelmaking countries in Europe where governments are actively supporting companies in decarbonisation initiatives.\u201d<\/p>\n <\/p>\n Don’t miss… <\/strong> We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info<\/p>\n Unite general secretary Sharon Graham criticised the reported plans and said the union would be \u201cmounting a significant campaign\u201d to protect jobs.<\/p>\n She said: \u201cThis Government could make us the green steel capital of Europe \u2013 instead they are choosing to follow a job cuts agenda.<\/p>\n \u201cUnite will leave no stone unturned in the fight for jobs.<\/p>\n “We will now be mounting a significant campaign on this issue and we fully expect the Labour Party to make a serious commitment to a better future for UK Steel.\u201d<\/p>\n![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/139\/590x\/secondary\/4939963.jpg?r=1693662825920\")
<\/p>\n
Huge win for Brexit as first bluefin tuna caught in 70 years sells for \u00a32,000[LATEST] <\/strong>
Rishi Sunak faces calls to scrap ‘not fit for purpose’ energy price cap[LATEST] <\/strong>
Resurgent UK car industry drives surprisingly strong GDP growth[LATEST] <\/strong><\/p>\n![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/139\/590x\/secondary\/4940067.jpg?r=1693662825974\")
<\/p>\n