Tatas to invest in Port Talbot steel plant post Thyssenkrupp merger – Feedback

Tata Steel will finance the repair of a blast furnace at Britain’s largest steelworks in Port Talbot, Wales, extending its life by seven years and soothing concerns about its commitment to Europe’s steel sector, four sources told Reuters.

Tata Steel signed a preliminary deal last year to merge its European steel assets with those of Germany’s Thyssenkrupp in a move driven chiefly by a need to address steelmaking overcapacity in Europe. Fully relining a blast furnace typically costs over 150 million pounds ($200 million) and gives the furnace an additional 20 years of life approximately, while the repairs Tata is looking at will cost about half of that,.

http://www.thehindubusinessline.com/news/world/tatas-to-invest-in-port-talbot-steel-plant-post-thyssenkrupp-merger/article22738701.ece

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