The Steel Council will meet regularly to establish a roadmap towards a rejuvenated, competitive and environmentally-progressive industry, along with an investment plan of up to USD 3.07 million.
Jan 9, 2025
In order to rebuild the country’s steel sector and receive suggestions for the upcoming steel strategy, the United Kingdom government has formed a new Steel Council, backed by an investment plan of USD 3.07 million.
The Council brought together steel sector leaders such as CEOs from Tata Steel and British Steel with industry experts, trade unions, trade associations and devolved governments to address the challenges facing the steel industry and make the changes needed to secure the long-term future of steelmaking in the UK.
Led by UK Business & Trade Secretary Jonathan Reynolds and Chair of the Materials Processing Institute Jon Bolton, the Council held its first meeting on January 7, 2025.
Mr. Reynolds said that a vibrant steel sector was crucial for economic growth and national security, as well as the foundation of the Government’s Plan for Change. In order to bring innovation in the steel sector, the UK government has come up with an investment plan of up to USD 3.07 million, he noted.
The UK Trade Secretary said the government would work closely with the Steel Council for the launch of the Steel Strategy in Spring.
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Mr. Bolton said the Council would meet regularly to develop a strategy to establish a roadmap towards a rejuvenated, competitive and environmentally-progressive industry, as well as detail the core elements of the USD 3.07 million investment plan.
