Tata weighing fate of Port Talbot steel plant

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Sharecast News | 29 Mar, 2016

Updated : 13:30

The future of the Tata-owned Port Talbot steel plant in Wales hinged on a board meeting in India on Tuesday as the company decided whether or not to close it down in the face of plunging commodities prices.

The company is considering a restructure plan that could see thousands of workers laid off, but the the plant remaining open, or mothballing it entirely.

Cheap Chinese imports and high energy costs have also been blamed for the plant's demise. Business minister Anna Soubry said she blamed former Business Secretary Vince Cable for not doing enough when he was in post in the last coalition government.

A trade union delegation met with Tata representatives ahead of the meeting. There had already been 1,000 job losses at Port Talbot in January. Last year the Redcar plant in the North East of England, owned by Thaland's SSI, shut down with 1,700 workers put on the street.

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