The UK government is close to agreeing a GBP300mn (USD372mn) package to help British Steel cut its carbon emissions and prevent thousands of job losses. The funds would be for the Chinese-owned steelmaker to transition from the current blast furnaces at its site in Scunthorpe, northern England, to a more environmentally-friendly electric arc furnace, according to a person familiar with the matter who requested anonymity discussing plans that aren’t finalized.

Source: ESG News