A latest media report suggested that Tata Steel is edging closer to a deal with UK steel workers' union to keep its troubled Port Talbot plant open until at least 2020. Union leaders will put together a new rescue plan to its members this week, which could see investments flow in the UK's largest steel plant in return for concessions on staff terms and conditions.
If a detente is reached between the Indian steel giant, and the staff, the company will look into partial relining of the blast furnace as an upgrade that would extend its life by several years. The report also quoted sources as saying that union officials had held talks with Tata Steel bosses, including executive director Koushik Chatterjee.
