Update on Sale of British Steel
It has been confirmed that contracts have been entered into with Jingye Steel to acquire the business and assets of British Steel.
The ceremony, which took place recently at London’s House of Commons, recognised the participation of MPs and suppliers in the programme and provided the MPs involved the opportunity to speak about their experiences of the rail supply industry.
The event follows a visit to our Scunthorpe site made by Martin Vickers MP earlier this year, where he met workers and apprentices along the manufacturing process route for the steel rails used on UK rail tracks.
Mr Vickers said:
“It was fascinating to see with my own eyes the great work that gets done on-the-ground in our rail industry, and to witness products being manufactured from the very beginning of the process. I think it is important for MPs to take part in visits like this and the RIA Rail Fellowship Programme is a great way to get involved.”
Richard Bell, Commercial Director Rail said:
“We’re proud to regularly host visits from across the rail industry to give stakeholders, from government ministers to apprentices, an appreciation of the size and scale of the technology required to provide the fundamental building blocks and a secure supply chain for UK rail.”
The RIA Rail Fellowship Programme showcases the work of the UK rail supply chain by allowing Parliamentarians and influencers to gain hands-on experience in the industry. A number of MPs have now taken part in the RIA Rail Fellowship Programme, as decision makers line up to pledge their support for the UK rail industry.
The rail sector is of crucial importance to the UK economy, contributing £36 billion in economic growth and £11 billion in tax revenue each year, as well as employing 600,000 people—more than the workforce of Birmingham. It is also a growing industry with the number of rail journeys expected to double over the next 25 years and freight set to grow significantly too.
The Rail Sector Deal between the UK government and the rail industry was published on 6 December 2018.
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