Talks With UK Govt On Financial Package Still On: CEO TV Narendran

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Talks With UK Govt On Financial Package Still On: CEO TV Narendran

New Delhi: Tata Steel is still pursuing its request for the financial package with the UK government, the company’s CEO TV Narendran said. Narendran who is also the Managing Director of Tata Steel made the remarks in reply to a question on his stance on exiting the UK business.

“Tata Steel is still pursuing it (request) with the government there (UK),” he told PTI on the sidelines of an event in the national capital. There has been no conclusion to the request made for a financial package, he said. (Also Read: SBI Reintroduces Amrit Kalash FD Scheme: Check Interest Rate, Benefits, And More)

India-headquartered Tata Steel owns the UK’s largest steelworks at Port Talbot in South Wales and employs around 8,000 people across all its operations in the country. (Also Read: Future ChatGPT Models To Replace Many Human Tasks: Top AI Scientist)

The company had sought 1.5 billion pounds from the UK government to execute its decarbonisation plans.

However, the British government earlier this year made a counteroffer that was much lower than the company’s expectations.

Speaking to PTI, Narendran had said that Tata Steel cannot see its future in the UK without the support of the government there.

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