Mumbai: Business Secretary(UK) and Bromsgrove MP Sajid Javid has met with Tata Steel chiefs amid reports the company is planning to put on hold the sale of its beleaguered UK arm. Mr Javid travelled to Mumbai to meet with board members of the global steel group during a visit to India to discuss future trade deals following the recent Brexit vote.
Javid’s meeting with Tata management was crucial amid the reports that Tata Steel may “pause” its plans to sell off most of the troubled UK units, including the mammoth Port Talbot steelworks in Wales. Although Javid did not meet the media, he later tweeted, “Just finished meeting with Tata Steel in Mumbai. Now off to Delhi for talks on UK/India trade.”
“This is part of our ongoing dialogue with Tata to maintain momentum and achieve a long-term solution for UK steelmaking,” the Department for Business, Innovation and Skills had said in a statement in UK on Thursday. The steel major is expected to proceed with the sale of its speciality steel making business, which employs 2,000 employees in sites of Hartlepool, Rotherham and Stocksbridge in the UK, and possibly shelve plans for the rest of its steelworks as a result of rising steel prices and uncertainty following Britain’s vote to leave the EU.