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Tata Steel reportedly close to securing £500m funding from UK government

Package would required firm to commit to building electric arc furnaces to reduce carbon emissions

The government is in advanced talks with the country’s largest steel producer, Tata Steel, over a £500m package to secure its long-term future in the UK, according to reports.

Funding would be pumped into the Port Talbot steelworks in south Wales alongside £700m from the firm’s Indian parent company, Tata Group, Sky News said.

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