British ministers want to put an end to the murky history with British Steel
On Tuesday, UK Business Secretary Andrea Leedsom is set to step in and rescue Tata Steel's Newport, South Wales plant, which is due to close by the end of the year with a loss of 400 jobs. The financial edition of the Daily Mail media group writes about this on Sunday.
And on Monday, the new steel minister, Nadhim Zahavi, is due to meet with UK-based steel companies at an industry meeting hosted by UK Steel and the cross-party parliamentary group on metals and steel.
The turmoil in the Cabinet began as concerns about British Steel and its 5,000 employees grew after the company went bankrupt in May.
Recall that the UK government initially gave 120 million pounds of support to British Steel, and a month later refused to add another 30 million, explaining this as a violation of EU legislation. As a result, the second largest steel company in the UK has a reason to declare bankruptcy.
The Insolvency Service entered into exclusive negotiations with Ataer, the Turkish army's pension fund. But last week he was forced to reopen discussions with other parties - reportedly including Britain's Liberty Steel and China's Jingye - after failing to negotiate a deal with Ataer right away.
Liberty Steel will be among the firms attending tomorrow's event with the Minister of Steel.
On Tuesday this week it was revealed that union leaders are meeting with Andrea Leeds to agree on a plan to rescue the Tata Steel plant in Newport. Syndex, a consulting firm working on behalf of the unions, is said to have developed a plan for a plant to manufacture new steel products for use in electric vehicles.
Union bosses are expected to ask the government for £ 30 million for this scheme.