Tata Steel announced proposals in September to invest £1.25 billion, including a UK Government grant worth up to £500 million, to enable greener steel production at Port Talbot. A Transition Board has now been established to support the people, businesses and communities affected by the proposed transition to low-CO₂ steelmaking.
The Tata Steel/ Port Talbot Transition Board met for the first time on Thursday, October 19 at the company's Port Talbot site where it agreed the ways of working, its terms of reference and membership of the board. The company and the UK Government's Department for Business and Trade will separately oversee the investment in low-CO₂ steelmaking at Port Talbot .
The Transition Board will have access to up to £100 million to invest in skills and regeneration programmes for the local area. It will focus on:
- Immediate support for the people, businesses and communities directly affected by the proposed transition to low-CO₂ steelmaking at Port Talbot; and
- A plan for local regeneration and economic growth for the next decade.
David TC Davies, Secretary of State for Wales will chair the Transition Board, while Vaughan Gething, Minister for the Economy of Wales, and Michael Gove, Secretary of State for Levelling Up, will be deputy chairs. The Board members include Henrik Adam, Chair of Tata Steel UK; Rajesh Nair, Chief Executive Officer of Tata Steel UK; Cllr Steve Hunt, Leader of Neath Port Talbot Council; and Stephen Kinnock, MP for Aberavon. Representatives from the trade unions also attend.
The next meeting of the Transition Board will be held in November.
