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The Chinese owner of British Steel rejected an offer of 500 million sterling pounds from the British government to help switch to greener production, in a decision that will raise concerns about the future of one of the largest steelmaking companies in Great Britain.
Sarah Jones, Minister of Energy, told the restricted committee for the affairs of the House of Commons on Wednesday that the government had made the offer to the owner of British Steel Jingye on Monday to maintain its operations, but that it had been rejected.
Jingye sent a letter to the government on Wednesday in which he refused the approach, according to people familiar with the situation.
The treasure had offered 500 million pounds sterling to try to support the company, given the strategic importance of the steel industry for Great Britain, people said.
Jones said that the government “still speaks with British Steel, every day”, but that development will put a doubt about the future of thousands of jobs on the flagship of the company in Scanthorpe in Lincolnshire.
British Steel operates the last two remaining high stoves in the United Kingdom after Tata Steel, belonging to Indian, closed her last in September.
British Steel did not immediately respond to a request for comments.
