The Government has published the Steel Strategy setting out its approach to the steel sector.
The Rt Hon Peter Kyle MP, Secretary of State for Business and Trade and Chris McDonald MP, Minister for Industry, stated in a joint Foreword:
This document sets out the action the UK and devolved governments have taken to remove barriers to investment and create a more supportive business environment and we want to hear from interested private sector investors. The government welcomes investment from new entrants to the UK market and there is UK government financing support available.
We will continue to work together with devolved governments, particularly with regard to our important steelmaking hubs in Wales and Scotland. Their involvement has helped shape this strategy, as has the involvement of our trade unions.
Working together, our government, industry and communities can secure a future for the industry that is internationally competitive, financially sustainable and attractive to investors.
Given its significance as a foundational material within the UK, the Henry Royce Institute worked together with several metallic materials experts across academia and industry to facilitate a Royce response to the consultation last year.
The Strategy reflects some of the core themes set out, including a continued move to greener, decarbonised steel production through a shift towards the use of modern electric arc furnace (EAF) technology, as well as better scrap segregation and sorting using scrap routes to replace blast-BOS grades and the need to retain primary iron/ virgin steel capability. The Strategy also devotes a significant section to skills, including re-skilling and apprenticeships.
Parties interested in investing in the UK can contact the Department for Business and Trade (DBT) at steelstrategy@businessandtrade.gov.uk.
