InvestorQ : Is Tata Steel likely to get a special rescue package from the UK government for its British operations in the light of COVID-19?
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Is Tata Steel likely to get a special rescue package from the UK government for its British operations in the light of COVID-19?

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1 year ago
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Tata Steel, which has already emerged as the largest producer of steel in the UK, is in talks for a relief package with the UK government. While details are not available, it is estimated that the size of the package could be closer to £500 million (Rs.4700 crore). Tata Steel has approximately estimated this as the cash impact of the shutdown. Even the UK MPs have been urging the government to help out the steel industry as it is considered to be the life line for industries like cars, construction, medical equipment etc and could be the key to any post pandemic recovery in the economy. Tata Steel Europe’s sales had fallen to 2.37 million tonnes compared to 2.57 MT in the year-ago period.

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