Advertisement

  1. ITV Report

Plan to secure future of Port Talbot steelworks to be unveiled

The future of Port Talbot steelworks in south Wales has been shrouded in uncertainty for months. Credit: PA

A plan to secure the future of Port Talbot steelworks in south Wales will be unveiled to staff on Wednesday, ITV News understands.

A union meeting is scheduled at which the deal agreed between union bosses and Tata Steel will be put to workers.

With a guarantee to keep both blast furnaces operational, it will be sold as a means to save thousands of jobs at the site that was previously earmarked by the Indian company for closure.

In March, the company said it be would putting its entire UK business - including the Port Talbot plant - up for sale, threatening thousands of jobs.

But in July, the sale of the loss-making Port Talbot site was unexpectedly halted following talks with potential bidders.

ITV News Wales Correspondent Rupert Evelyn said the outcome is "extraordinary".

The firm made a net loss of £358 million for during the second quarter to June, amid continued uncertainty over its UK operations.