By Council welcome ‘great news’ British Steel investment
North Lincolnshire Council have described the huge investment at British Steel as “great news for the people in North Lincolnshire”
On Wednesday, British Steel announced a huge £80 million investment was underway as the steel giant looks to enhance their product range whilst improving operational and environmental performance.
According to British Steel, over half of the investment (£48 million) will finance the installation of a new billet caster at their Scunthorpe site.
Additionally, the company’s Scunthorpe Rod Mill has been allocated £32 million for general upgrades.
Cllr Richard Hannigan, deputy leader of North Lincolnshire Council, has welcomed the investment, suggesting the money allocated was a “vote of confidence” in the local economy and the vastly talented staff working across Scunthorpe, adding:
“Today’s (15 June) announcement is great news for the people of North Lincolnshire. This major investment will help the company move to new markets with new products and enhance their supply of world-class steel in this country and across the world.
“It is also part of the company’s plans to reduce their impact on the environment with investment in new state-of-the-art technology and innovative solutions to reduce waste and carbon emissions.
“The council continues to work with British Steel and other local companies to improve the economy to bring new and protect existing jobs, and move forward with our Green Futures environmental agenda.”
The new billet caster, which will allow the steel giant to manufacture lengths of semi-finished steel, is set to be commissioned at the end of the year. It is hoped that this investment will “enable the company to both increase capacity and grow into new markets”
Additionally, British Steel has suggested the upgrades to the mill are expected to be commissioned in 2023.
Additional investments will also be commissioned at FN Steel, British Steel’s sister company, located in the Netherlands.
