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British Steel looks set to abandon plans to return to Teesside, ending hopes of hundreds of jobs coming to the North East.
The loss-making company, which has been in talks over a government-backed bailout, had planned to build a “green steel” electric arc furnace in the region and another at its main site in Scunthorpe.
It would have marked a return for the industry to an area devastated by the closure of the Redcar steelworks in 2015.
But both kilns will now be built in Scunthorpe, The Sunday Times reported, under plans being discussed with Labor ministers.
Disappointment: Both furnaces will be built in Scunthorpe under plans being discussed with Labor ministers
British Steel has been in talks with the Government to secure taxpayer funding to replace its blast furnaces with electric furnaces. A spokesman confirmed the talks but said “no final decisions had been made.”
A Department of Business spokesperson said it was working to ensure a “green steel transition”.
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