Indian steel giant Tata has announced it plans to invest £800 million into Wales’ steel making industry over the next five years.
First minister Carwyn Jones recently met the vice chairman of Tata Steel, Mr B Muthuraman, in Mumbai as part of a government trade mission to the country.
Tata has plants across Wales and currently employs around 7,500 people in the country. An investment of £240 million has already been announced for Tata’s Port Talbot steel works, with £185 million to be spent on a new blast furnace and £53 million on an upgrade to the steel-making shop.
Commenting on the plans, Carwyn Jones said: "I was delighted to meet Mr Muthuraman and to reaffirm personally the Welsh government's continuing commitment to partnership with Tata Steel. Mr Muthuraman explained to me that Tata steel plans to invest up to £800 million over the next five years in their Welsh facilities. This substantial investment will be used to improve production, product mix, quality and product range at their plants in Wales.
"Mr Muthuraman paid tribute to the quality of the workforce available in Wales and recognised the importance of the continuing partnership with the Welsh government in creating confidence for long-term investment decisions. He noted too that Port Talbot is one of the best sites in Europe for steelmaking.”
He concluded: “This is excellent news for our communities and a massive vote of confidence in Wales. A first-class workforce, strong industrial relations and a mutually supportive relationship with the Welsh government have all played a part."
