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British Steel's Chinese owner rejects £500m government aid offer

Summary

The Chinese owner of British Steel has rejected a £500m state rescue package in a move which raises fresh doubts about thousands of steel industry jobs.

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Bloomberg

Lean Left

British Steel Owner Jingye Rejects £500m Government Rescue Deal

British Steel’s Chinese owner has rejected a £500 million ($644 million) UK government rescue package, throwing the future of the country’s steel industry into further doubt.

4 days ago·United States

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Sky News UK

Center

British Steel's Chinese owner rejects £500m government aid offer

Jingye Group has turned down an offer of taxpayer support proposed by Jonathan Reynolds, the business secretary, leaving fresh questions over thousands of steel industry jobs, Sky News can reveal.

4 days ago·United Kingdom

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Financial Times

Center

British Steel’s Chinese owner rejects UK government subsidy offer

Moves triggers fears over future job losses at company’s flagship Scunthorpe site

4 days ago·London, United Kingdom

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thechemicalengineer.com

British Steel to close Scunthorpe blast furnaces after rejecting £500m government rescue package

BRITISH STEEL today announced plans to close its two blast furnaces in Scunthorpe, UK, with the loss of around 2,700 jobs.

3 days ago

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Grimsby Telegraph

British Steel's Scunthorpe blast furnaces could close in June

It comes as there are widespread media reports that a Government support package, thought to be worth £500m, was offered to British Steel and rejected

4 days ago·Grimsby, United Kingdom

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khbrknews

British Steel’s Chinese owner rejects £500m government aid offer

The Chinese owner of British Steel has rejected a £500m state rescue package in a move which raises fresh doubts about thousands of steel industry jobs. Sky News has learnt that the offer was made by Jonathan Reynolds, the business secretary, in a letter sent to Jingye Group on Monday. The proposal – aimed at facilitating the Scunthorpe-based group’s transition to green steel production – follows years of talks aimed at salvaging the future of t…

4 days ago

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