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MPs set for emergency steel crisis debate in Commons

MPs are set to hold an emergency debate to discuss the current steel industry crisis facing the UK as the future of British steel continues to 'hang in the balance'.

It comes as the Government said on Monday it could look at the possibility of co-investing with a steel buyer "on commercial terms" to help secure a sale.

Business Secretary Sajid Javid said the "Government stands ready to help" as he addressed the Commons on the issue after Tata Steel announced a deal with Greybull Capital to buy its Scunthorpe plant and save 4,400 UK jobs but no deal was yet secured for other UK plants.

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Liberty Group: 'Positive meeting with Sajid Javid'

Sanjeev Gupta described the meeting as Credit: ITV News

Head of Liberty Group Sanjeev Gupta held a "positive" meeting with Business Secretary Sajid Javid, the steel tycoon has said.

The company is interested in buying the Port Talbot steelworks from Mumbai-based Tata Steel, where Mr Javid is engaged in talks.

UK Government appears highly supportive and is proactively engaged in finding a long-term solution.

We have also actively engaged with Welsh Government and again we are encouraged by their approach.

The next step is for Tata to define the formal sales process and request indications of interest from potential buyers. We await further details on this and then will assess our own next step.

Liberty has already proven its ability to build value from UK steel assets with our acquisition of our Newport Steel plant, Midlands engineering operations and most recently in Scotland where we acquired mills from Tata.

Everyone is very motivated to find a solution.

– Sanjeev Gupta, Liberty Group
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MPs set for emergency steel crisis debate in Commons

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