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The Independent UK
The Independent UK
National
Danica Kirka

UK nationalizes Chinese-owned British Steel to protect nation's steelmaking capacity

British Steel United Kingdom Jingye
Switzerland Britain - (© KEYSTONE / ANTHONY ANEX)

The U.K. government has nationalized British Steel to protect the nation’s steelmaking capacity after the company’s Chinese owners moved to shut the plant’s blast furnaces.

The Department for Business and Trade announced the move on Thursday, saying it would save thousands of jobs and protect the U.K.’s national interest by ensuring a supply of domestically produced steel for major construction projects and the defense industry.

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