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Tata Steel Starts Sales Process For UK Plants

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Tata is beginning the formal process of selling its loss-making UK steel empire today, inviting potential buyers to submit offers.

The only company that has so far expressed a public interest in buying the assets, including the country's biggest steel plant at Port Talbot in south Wales, is Liberty, owned by Sanjeev Gupta.

Mr Gupta has spoken of a desire to save jobs with the potential to remodel Port Talbot as a producer of steel through the use of electric arc furnaces – to take advantage of recycling opportunities.

But top of his list of concerns are high energy costs in the UK, which he told Sky News last week would have to be “rectified” by the Government.

SOURCE: news.sky.com