The fund will be delivered through a partnership between Neath Port Talbot Council and Welsh Government’s Business Wales.
Supply chain businesses impacted by Tata Steel UK’s transition to electric arc steelmaking at Port Talbot will from today be able to seek funding to overcome short term challenges during the transition phase, as well as helping businesses refocus in preparation for new growth opportunities.
Business Wales is today inviting businesses in the Tata Steel UK supply chain to assess their eligibility for support through the Supply Chain Transition Flexible Fund as part of an overall £80 million support fund provided by UK Government through the cross-government transition board.
It comes on the day that Tata Steel UK is ceasing operations at blast furnace 4 along with other associated iron and steelmaking assets, bringing an end to ironmaking at the Port Talbot site. Steelmaking at the site will resume in 2027 through the investment of £1.25 billion in electric arc furnace based steelmaking, using UK-sourced scrap steel.
It will provide business advice and financial support to affected supply chain businesses across Wales who are working in the Tata Steel UK supply chain. The intervention will ensure that businesses impacted by Tata Steel UK’s transition at Port Talbot are able to overcome short term challenges during the transition phase, as well as helping businesses re-orientate in preparation for new growth opportunities.
Businesses will be able to register their interest to discuss their needs with Business Wales, through an eligibility checker. Eligible businesses will then receive a comprehensive diagnostic ahead of being invited to apply for financial assistance.
