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<p>As announced on the 15th of September 2023, Tata Steel is investing £1.25 billion,
including a UK Government grant worth up to £500 million, in a new Electric Arc Furnace.
This support is expected to save at least 5,000 jobs in the company, and thousands
more in the supply chain.</p><p>Where staff are affected by the transition to an Electric
Arc Furnace, Tata has a legal obligation to consult staff in a meaningful way, and
this process is underway, led by the company. Whilst this is a process for the company
to lead on, Ministers and officials are meeting regularly with both Tata Steel and
Union representatives, and will continue to hold Tata to account during the consultation
process.</p><p>Regardless of the outcome of the consultation, we are working with
Tata Steel to provide up to £100 million of funding for a dedicated Transition Board,
with membership including representatives of the Welsh Government, to support impacted
employees and the local economy. Tata has also announced that they will provide a
£130 million comprehensive support package for affected employees.</p>
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