Strong support for a steel deal to help in the green transition has been voiced as the Humber was revealed as one of 20 Net Zero hotspots for economic activity.
It is understood an offer may be on the table to support British Steel on decarbonisation, while navigating soaring energy prices and an economic downturn. A £300 million war chest could be tapped into, a similar figure to that already invested by the Chinese Jingye Group, since it bought the business out of liquidation in early 2020.
In a briefing supporting the launch of the report from CBI Economics and the Energy and Climate Intelligence Unit, underlining the important future steps to capitalise on the UK’s position in the clean economy, the vital role for traditional industry was flagged while new jobs in hydrogen, carbon capture and further offshore wind development were welcomed.
