NDTV·2 min read·medium
UK Nationalises British Steel, Takes Control From China's Jingye
✦AI Summary
The UK government has nationalized British Steel, taking control of the Scunthorpe plant from China's Jingye Group. The move follows concerns that the facility, the country's last integrated steel producer, was no longer financially viable.
The country's last factory that can make steel from scratch faced imminent closure last year after Jingye said the plant in Scunthorpe, northern England, was no longer financially viable.
businesseconomy
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