Joint Statement of the Transition Board’s Third Meeting
The Tata Steel / Port Talbot Transition Board met for the third time on Thursday 1 February 2024 at the company’s Port Talbot site.
A Tata Steel Coke Oven
The Tata Steel / Port Talbot Transition Board met for the third time on Thursday 1 February 2024 at the company’s Port Talbot site.
The Board had the opportunity to speak to Tata Steel executives about their plans for decarbonisation, and how they would support those employees, communities and businesses affected. The Board also had updates from the sub-groups on their plans and priorities in the coming months.
This included plans to develop a Local Economic Action Plan to inform and advise future Transition Board interventions.
The Transition Board will have access to up to £100 million of funding (£80 million from the UK government and £20 million from Tata Steel) to invest in skills and regeneration programmes for the local area once the outcome of formal consultation is known. The Board and associated funding will focus on:
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Immediate support for the people, businesses and communities directly affected by the proposed transition to low-CO₂ steelmaking at Port Talbot; and
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A plan for local regeneration and economic growth for the next decade.
David TC Davies, Secretary of State for Wales chairs the Transition Board, whilst Vaughan Gething, Minister for the Economy of Wales, and Michael Gove, Secretary of State for Levelling Up, are the deputy chairs. The Board members include Nusrat Ghani, Minister of State at the Department for Business and Trade; T. V. Narendran, Global CEO and Managing Director of Tata Steel; Henrik Adam, Chair of Tata Steel UK; Rajesh Nair, Chief Executive Officer of Tata Steel UK; Cllr Steve Hunt, Leader of Neath Port Talbot Council; Stephen Kinnock, MP for Aberavon; and David Rees, MS for Aberavon. The board consists of independent business members, Anne Jessopp CBE (Chair of the People, Skills and Business Sub-Group), Sarah Williams-Gardener (Chair of the Place and Regeneration Sub-Group) and Katherine Bennett CBE. Representatives from the trade unions attended.
The next meeting of the Transition Board will be held in March.
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NOTES TO EDITORS
Tata Steel announced proposals in September 2023 to invest £1.25 billion, including a UK Government grant worth up to £500 million, to enable greener steel production at Port Talbot. A Transition Board to support the people, businesses and communities affected by the proposed transition to low-CO₂steelmaking, was established in October with £100 million in funding - £80 million from the UK government and £20 million from Tata Steel.
The Transition Board does not oversee the proposed £1.25bn investment in low-CO₂steelmaking at Tata Steel UK. This is for the company to oversee with the Department for Business and Trade, UK Government.
Tata Steel made a further announcement on 19 January 2024 that they intended to continue with their decarbonisation plans, and would make an additional £130 million available to support those affected.