Talks With UK Govt On Financial Package Still On: CEO T V Narendran

Tata Steel is still pursuing its request for the financial package with the UK government, the company's CEO T V Narendran said. Narendran who is also the Managing Director of Tata Steel made the remarks in reply to a question on stance on exiting the UK business.
     
"Tata Steel is still pursuing it (request) with the government there (UK)," he told PTI on the sidelines of an event in the national capital.
     
There has been no conclusion to the request made for a financial package, he said.
     
India-headquartered Tata Steel owns the UK's largest steelworks at Port Talbot in South Wales and employs around 8,000 people across all its operations in the country.
     
The company had sought 1.5 billion pounds from the UK government to execute its decarbonisation plans.
     
However, the British government earlier this year made a counter offer which was much lower to the company's expectations.
     
Speaking to PTI, Narendran had said that Tata Steel cannot see its future in the UK without the support of the government there.