The Welsh Government is investing more than £660,000 in
world-leading research and development to help safeguard the
long-term future of steel production in Wales by developing new
higher strength steel products to meet the latest demands
of the global market.
Economy Secretary, has announced that
£666,327 of Welsh Government Research and Development Grant
Funding is being made available to Tata Steel to help the
company develop new and innovative higher strength steel
products at its sites in Port Talbot and Llanwern.
The grant funding is in addition to Tata’s own investment in the
two year project and will enable the company to
develop and test new forms of steel that boast improved
functionality and increased technical specifications.
The investment in the project will mean Wales is well placed to
respond to global market demand for new and advanced steel
goods for the automotive and construction sectors and will place
Wales in a more competitive position for the future.
said:
“The Welsh Government has been working to support Wales’ steel
workers and this latest offer demonstrates our continued
commitment to safeguarding a long-term future for the steel
industry in Wales.
“Increasing the level of steel related research and development
taking place in Wales is critical if we are to meet the demands
of the market and secure the long term future of Welsh
steel.
“Not only will increased research and development enable us to
develop new products here in Wales it will also increase
our competitiveness, help to reduce costs and enable us to
reduce our carbon emissions.
“Ultimately it is part of our ongoing efforts to secure a long
term future for our steel workers, their families and the
industry as a whole.”
This latest funding agreement is part of a wider package of
support from Welsh Government for Tata that includes £4m of
funding towards skills development activities across Tata’s Welsh
operations and a further £8m investment in its Port Talbot plant
which will reduce energy costs and carbon emissions. With
the exception of funding for skills, Welsh Government
support will be subject to agreeing legally binding conditions
with Tata.
