(You can now subscribe to our(You can now subscribe to our Economic Times WhatsApp channelThe British government is open to additional funding for Tata Steel UK if the company can open additional product lines that can then help save some jobs, chief executive officer TV Narendran said. This transition is expected to make around 2,800 jobs redundant, which the newly elected Labour has been vocal about avoiding. In its third phase of expansion, the company plans to add another 5 million tonnes of capacity at the plant, but is yet to take the proposal to the board. The company plans to expand production capacity at Neelachal to five million tonnes from one million in the first phase, and then take it ahead to nine and a half million tonnes. Tata Steel has the capacity to produce 21 million tonnes of steel in India, and plans to increase this to up to 40 million tonnes by 2030.
