Chinese steelmaker Jingye plots fresh bid for British Steel

The fate of more than 4,000 British Steel workers, and of up to 20,000 additional jobs in its supply chain, rest on securing the company's future, and that of its plants in Scunthorpe and northeast England.

A spokesperson for BEIS said:"In August, the Official Receiver confirmed a period of exclusivity with Ataer Holdings to purchase the entire business and assets of British Steel and work is continuing to finalise the details.A rescue of British Steel would be viewed as an important sign of the government's commitment to steel manufacturing in the UK, which has slumped over recent decades.

The government has also agreed an outline support package totalling hundreds of millions of pounds in the form of grants, indemnities and loans on commercial terms. That came just weeks after Greg Clark, Ms Leadsom's predecessor, agreed to provide an emergency £120m loan to cover the cost of an EU carbon credits scheme for industrial polluters.

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