The British government took control of the steel factory belonging to the Chinese company to save it from closing

The Parliament and King of Great Britain approved the bill on the transfer of the Government of the British Steel steel plant in the Scantorp in the County of Lincolnshir, owned by the Chinese company Jingye. It is reported by the BBC.

The law allows the Government and Minister for Business Affairs Jonathan Reynolds to manage the board of directors and personnel of British Steel, including ordering raw materials to continue the work of domain furnaces. At the same time, the ownership of the plant still belongs to the Chinese owners, however, as notes the publication, with a high degree of probability it will eventually be nationalized, since relations between the owners and the British government have recently become increasingly stressful. The sources of the BBC said that this morning, representatives of Jingye could not get to the plant-they were not missed by automatic number of license plates. After that, the police came to the plant, but no one was detained.

The plant in Scantorp is the last full cycle in the UK, producing steel that experiences serious economic difficulties. The Jingye company bought it in 2020 from the State Bankruptcy Service and claims that it loses £ 700,000 per day, despite £ 1.2 billion investments, due to the need to switch to more environmentally friendly production technologies, an oversupply became on the world market and introduction by US President Donald Trump for all steel, imported by the United States. The owner of the owner was accused of refused to purchase raw materials - coking coal and iron pellets necessary for the work of domain furnaces. Jingye rejected these accusations and refused the government’s proposal to purchase raw materials. As a result, a threat of stopping the work of blast furnaces was created, and as a result, the final closure of the plant, since it will be almost impossible to start the furnace again. The Great Britain, led by the Prime Minister, a member of the Labor Party, Kira Starmer, intends to maintain a plant at all costs, since its closure is fraught with difficult consequences: 2700 of its employees will lose their jobs on one day, and the UK will become the only state of the Great Seven, which has no opportunity to independently produce steel from scratch, which is considered a threat to the country's economic security. As a result, the deputies were forced to interrupt Easter holidays to develop a bill on the transfer of the plant under the control of the government, and its coordination and approval took a record short time - about 6 hours.