Javid to address MPs as deal to save Scunthorpe steel plant beckons | Politics | The Guardian

The business secretary is hoping to announce the news to parliament on Monday that the steelworks, which has been on the market since 2014, has been purchased by Greybull Capital.

 

He will also give an update on whether there has been any progress in securing a buyer for the rest of Tata’s UK operations, with up to 40,000 jobs still at risk.

 

Javid has held a series of meetings with potential buyers including Sanjeev Gupta, the executive chairman of Liberty House. He has also travelled to Mumbai to speak to the Tata chairman, Cyrus Mistry, after the company said it would sell its British assets, which are losing £2.5m a day.

 

Roy Rickhuss, the general secretary of the Community union, who previously travelled to India to meet Tata executives, said he would welcome good news for the industry in Scunthorpe. He remained optimistic about a sale of the other parts of the company, which he argued were still a “viable business”.

 

Sajid Javid will address MPs about the crisis in the steel industry as a deal securing thousands of jobs at Tata’s Scunthorpe plant is expected to be secured.

 

 

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