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20 Jan
14:47

UK government prepares British Steel aid package: reports

UK Chancellor Jeremy Hunt is set to approve a £300 million ($371m) tax payer-funded aid package to British Steel, to be handed to the steelmaker in instalments during the next few years, Sky News reports. The funding would be "directly linked" to a project to replace British Steel's blast furnaces at its Scunthorpe site with a greener electric arc furnace, the news agency cites one person close to the situation as saying. Jingye Group, British…
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