The First Minister of Wales Carwyn Jones has said that TATA Steel is to invest £800 million in Wales over the next five years.
He met with the vice chairman of TATA Steel, B Muthuraman in Mumbai last week as part of the Welsh Government’s trade mission to India. They discussed the company’s forward investment strategy for Wales and to reaffirm the Welsh Government’s continuing partnership with TATA Steel.
Carwyn Jones said: “I was delighted to meet Mr Muthuraman and to reaffirm personally the Welsh Government’s continuing commitment to partnership with TATA Steel.
“Mr Muthuraman explained to me that TATA Steel plants to invest up to £800 million over the next five years in their Welsh facilities. This substantial investment will be used to improve production, product mix, quality and product range at their plants in Wales.”
TATA Steel has already committed up to £240 million on steelmaking in Wales with £185 million earmarked for rebuilding the Number Four blast furnace at Port Talbot.
The news comes shortly after the blast furnace at the former TATA Steel plant in Redcar, Teeside was re-lit. New owner SSI from Thailand has been heating up the furnace since February ready for the moment when super-heated air can be ignited creating the blast furnace.
SSI president Win Viriyaprapaikit said: “This is a very proud day for us and for me personally. I believe the investment we have made at Teeside will result in a very successful business which will benefit all of the stakeholders involved including the local community and employees for generations to come.”