Britain announces billions of pounds to enhance the steel industry
London, February 16 / WAM / The British government announced plans for billions of pounds to support the country’s steel industry and ensure its future.
The British “BA Media” agency reported that a review aimed at studying long -term issues facing the sector has been launched such as high electricity costs, unfair commercial practices, and mineral scrap recycling.
The government said that up to 2.5 billion pounds (3.15 billion dollars) will be allocated to support the United Kingdom’s steel industry, and that the aid will be available through the National Resources Fund, which may benefit areas such as Squareb, Rouzatham, Rhodarcar, Yorkshire and Scotland.
Money will be spent on initiatives aimed at ensuring a long -term future for steel industry, such as electric arc furnaces.
This announcement comes after the government agreed to expand Heathrow Airport, which will require 400,000 tons of steel.
It is noteworthy that the United Kingdom’s steel industry has faced many challenges in recent years, including the shift to a more environmentally friendly production method in a huge factory in Port Talbot, south of Wales, which led to the loss of jobs.
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