Tata to invest £800 million in Welsh facilities
India's Tata Steel plans to invest up to £800 million in its facilities in Wales over the next five years, the First Minister of Wales, Carwyn Jones, said in a statement, after returning from a visit to India.
Jones met the vice chairman of Tata Steel B Muthuraman, in Mumbai, as part of the Welsh government's trade mission.
They discussed the company's forward investment strategy for Wales as well as the Welsh government's continuing partnership with Tata, which has plants across Wales, including Port Talbot and Shotton.
Investment of £240m has already been announced for Port Talbot steel works, with £185m going on a new blast furnace and £53m spent upgrading the steel-making shop.
Tata Steel has a number of facilities in Wales and employs 7,500 people in Wales.
In December, Tata said it would mothball its Llanwern processing mill in south Wales, citing weak demand for steel and a poor economic outlook.
Jones said: "Mr Muthuraman explained to me that Tata steel plans to invest up to £800m 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.
"Mr Muthuraman paid tribute to the quality of the workforce available in Wales and recognised the importance of the continuing partnership with the Welsh government in creating confidence for long-term investment decisions.
"He noted too that Port Talbot is one of the best sites in Europe for steel making."
Mr Jones said the investment was a "massive vote of confidence in Wales".
A Tata Steel spokesman said: "None of this investment has been announced previously.
"This is Tata's expression of intention and vision for Port Talbot and the steel industry in Wales.
"The First Minister went to meet Tata's management to discuss the future of steel industry in Wales."
He added that the first minister heard that Tata would be continuing its commitment to the Welsh steel industry, and "this was Tata's intention for the future".
Picture: vice chairman of Tata Steel B Muthuraman
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