- Web Desk
- 2 Hours ago
Britain’s biggest steelworks ending production after 100 years
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- Reuters
- Sep 30, 2024
LONDON: Britain’s biggest steelworks will end production later on Monday, when the final blast furnace at Port Talbot in Wales will close after more than 100 years of steel making, at a cost of almost 3,000 jobs.
The closure of the last blast furnace at Port Talbot, once the largest steelworks in Europe, is the culmination of decades of decline in Britain’s steel industry, which has struggled to compete with low-cost imports.
Showing the scale of the challenge, India-owned Tata Steel had been losing 1 million pounds a day before it began the process of shutting down its facilities.
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The Tata Steel-owned site will now be subject to a three to four year-long decarbonisation plan to build an electric arc furnace which will make steel from scrap, a 1.25 billion-pound ($1.68 billion) project backed by 500 million pounds of British government funding.
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In central England, 200 miles away from Port Talbot, Britain’s last coal-fired power production plant is also due to shut on Monday, ending over 140 years of coal power.
Steelworkers union Community said in a statement that the closure of the final blast furnace was “the end of an era” and called it “an incredibly sad and poignant day”.
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Another company, British Steel, which is Chinese-owned, continues to make virgin steel at its two blast furnaces in Scunthorpe, northern England, but it is also in talks with the government about shifting to cleaner manufacturing.
The government has said it wants to invest 2.5 billion pounds in the steel industry and it will publish a strategy on its plans to boost the sector next Spring.
The switch to electric steelmaking is expected to cut Britain’s carbon emissions by 1.5% as Port Talbot’s coal-fired plant is the country’s biggest single carbon emitter.
($1 = 0.7457 pounds)