The federal government is doubling its help for employees and companies affected by job losses at a large Tata metal plant.
An additional £15m will likely be made accessible for provide chain companies and employees affected by adjustments at Tata’s Port Talbot web site in south Wales.
Jo Stevens, the Welsh secretary, mentioned companies throughout Wales which can be reliant on Tata metal will now profit from a complete of £30m.
Extra companies will now additionally be capable to apply for the funds, whereas the worth of particular person grants will rise to as much as £250,000 for funding in tools, property and expertise.
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As much as 2,800 jobs at Tata Metal are anticipated to be axed on the nation’s largest steelworks in Port Talbot as the corporate strikes over to a greener type of metal manufacturing which requires fewer employees.
The bundle is designed to help companies that depend on Tata Metal as their important buyer, whereas the cash will even be used to assist employees who’ve been made redundant by giving them entry to coaching and {qualifications} in sectors the place there are job vacancies.
The federal government mentioned there was “significant demand” on the prevailing funding, with nearly 40 companies within the software course of.
Grants value thousands and thousands of kilos are anticipated to be launched within the new yr.
Ms Stevens mentioned: “This government is acting decisively to support workers and businesses in Port Talbot.
“We’re doubling the funding accessible to companies and employees and widening entry to grants to make sure we help as many individuals as doable.
“In just four months we have announced more than £40 million in investment. We said we would back workers and businesses affected by the transition at Port Talbot and we are doing exactly that.
“Whereas this stays a really troublesome time for Tata employees, their households and the group, we’re decided to help employees and companies in our Welsh metal business, no matter occurs.”
Earlier this yr, Tata confirmed it will press forward with plans to shut blast furnaces and substitute them with electrical arc furnaces beneath its plan to cut back emissions and prices.
It mentioned the transfer will reduce carbon emissions by about 85% and the UK’s general CO2 output by about 1.5%. The Port Talbot web site is the UK’s single largest emitter of CO2.
The brand new furnace will make metal through the use of UK-sourced scrap steel as its uncooked materials. The iron ore that the furnaces at present use must be imported.
