transaction on sale of the metallurgical plant British Steel to a Chinese company Jingye is in the final stage of regulatory approval in the UK. This was stated by the representative of the government on Monday afternoon.
"the Completion of the contract depends on a number of issues, including obtaining the necessary regulatory permits ... Business will continue to operate normally during the period between exchange and completion," reads the statement of the official of the recipient.
the Chairman of the group Jingye Li Ganpo said that in the next decade will spend 1.2 billion pounds to upgrade equipment, "improving the environmental performance of the company ... and increasing energy efficiency in order to make operations more competitive and sustainable."
He also said he would seek to "save thousands of jobs in key industries for the UK" but did not specify exactly how much will be saved.
In British Steel now employs approximately 4,000 people, providing jobs in Scunthorpe and Teesside.
Second largest metallurgical plant in the UK is under external control since may, when its previous owner decided to declare the company bankrupt.
