British Steel Rejects $646 Million Rescue Offer from U.K. Government

GALWAY, IRELAND--April 8, 2025--Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--The Chinese owner of British Steel Limited (BSL) (Scunthorpe, England) has turned down a U.K. government offer of up to £500 million (US$646 million) to overhaul the country's second largest steel operation at Scunthorpe, putting up to 2,700 jobs at risk. Within this article: Details rejection by Chinese owner of British Steel of U.K. government's $646 million rescue package, state of negotiations, impact on steel sector, job losses, related deal struck with Tata Steel