Port Talbot rescue hopes suffer blow

CANTERBURY (Scrap Monster):  Sanjeev Gupta, chief executive of Liberty House, has put forward a plan to replace the blast furnaces with electric-arc furnaces fuelled by scrap metal.

Speaking at a commodities conference in Switzerland, the British steel industry investor said that his rescue plans would not include demands from some that Port Talbot keep its blast furnaces burning.

Mr Gupta, chief executive of Liberty House, has put forward a plan to close the blast furnaces and replace them with electric-arc furnaces fuelled by scrap metal, rather than iron ore and coal. He was reported

Sanjeev Gupta appeared to be cooling in his pursuit of Tata’s steelworks at Port Talbot on a day when the latest industry figures indicated that demand would continue to be depressed this year.

Courtesy: www.thetimes.co.uk