UK: £13.5 Million in funding for supply chain businesses and workers at Port Talbot

The Port Talbot Transition Board, chaired by Welsh Secretary Jo Stevens MP, has announced £13.5 million in funding to support supply chain businesses and workers impacted by Tata Steel UK’s shift towards greener and more sustainable steelmaking practices.

The funding, part of the UK Government's £80 million contribution to the Transition Board fund, aims to assist local businesses heavily dependent on Tata Steel as their primary customer. This support will enable these businesses to explore new markets and customers as they adjust to the changes brought about by Tata Steel's transition.

In addition to business support, the funding will also be available to workers affected by the transition, providing resources to help them find new employment opportunities, access training, and gain skills and qualifications in areas with job vacancies.

To further support affected workers, more than 50 businesses have signed a pledge to offer practical assistance. These businesses, including Fintech Wales, The Royal Mint, Cardiff Metropolitan University, RWE Energy, Ledwood Mechanical Engineering, and Pro Steel Engineering, have committed to providing support such as guaranteed interviews, training, and coaching.

Welsh Secretary Jo Stevens emphasized the importance of the funding, stating, "The release of this initial £13.5 million demonstrates our commitment to supporting workers and businesses in Port Talbot. We are working closely with the Welsh Government, unions, and the local community to ensure a smooth transition."

Tata Steel UK’s CEO, Rajesh Nair, highlighted the role of the Transition Board in supporting the company's move to low-CO2 steelmaking and fostering regeneration and investment in the area. He welcomed the funding announcement, noting its importance in helping the region and local communities adapt to the evolving industrial landscape in South Wales.

Further details on how local businesses and affected workers can access the initial £13.5 million in Transition Board funding will be made available soon.

Source and Photo: Tata Steel in Europe