Tata Steel has about 7.5 million tonnes per annum (mtpa) of steel-making capacity at its IJmuiden Steelworks in Netherlands and another 3 mtpa at Port Talbot in the UK. “Being in the EU restricts the level of government support that the UK can offer Port Talbot. “Port Talbot is the only crude steel-producing plant in the UK and employs a lot of people. Tata Steel will be in a better position to negotiate with government post-Brexit." Overall, Tata Steel Europe’s performance also improved operationally in the second quarter.

Source: Mint November 16, 2020 01:52 UTC