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Tata Steel to cut around 3,000 jobs at Wales factory
Due to the difficulties in financing green production of metals, around 3,000 jobs will be axed at the Wales factory by Tata Steel. Two blast furnaces at the Port Talbot steelworks will be closed, resulting in the loss of more than one-third of employees.
Tata Steel Europe is set to lose more than 1 billion pounds during its transition to green production, with UK operations losing 1 million pounds a day.
According to experts, using green hydrogen is helpful for the highly polluting steel industry, but a large amount of investment is needed to produce clean energy. In addition, the steel industry has been facing soaring energy costs after Russia’s invasion of Ukraine.
Tata Steel Europe is set to lose more than 1 billion pounds during its transition to green production, with UK operations losing 1 million pounds a day.
According to experts, using green hydrogen is helpful for the highly polluting steel industry, but a large amount of investment is needed to produce clean energy. In addition, the steel industry has been facing soaring energy costs after Russia’s invasion of Ukraine.
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