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<p>The Government is working with Mayor Ben Houchen, the Tees Valley Combined Authority
and the South Tees Development Corporation to promote new investment across the entire
development corporation site. Government is looking to promote new developments in
low carbon electricity generation; manufacturing and process industries, as well as
research and development into innovative technologies aligned with the Industrial
Strategy and Clean Growth Strategy. Any proposals for additional funding would need
to meet public funding guidelines. On the part of the site owned by SSI-in-liquidation,
development is currently constrained because of the charges held by three Thai banks.
Negotiations are ongoing to remove these charges by the South Tees Development Corporation,
supported by Her Majesty's Government.</p>
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