Tata steel to invest £800m in Wales
Monday 16 April 2012
Hundreds of millions of pounds is to be invested in the Welsh steel industry over the next five years, it was revealed today.
The First Minister of Wales returned from a trade mission to India and announced that steel giant Tata plans to invest £800 million in Wales.
Carwyn Jones met the vice chairman of Tata Steel, Mr 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.
Mr Jones said: "I was delighted to meet Mr Muthuraman and to reaffirm personally the Welsh Government's continuing commitment to partnership with Tata Steel.
"Mr Muthuraman explained to me that Tata steel plans to invest up to £800 million 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 steelmaking.
"This is excellent news for our communities and a massive vote of confidence in Wales. A first-class workforce, strong industrial relations and a mutually supportive relationship with the Welsh Government have all played a part."
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