Chinese steelmaker to invest £1.2bn in British Steel

By Hamish Champ2020-03-10T10:20:00

Source: Shutterstock

Jingye completes acquisition of collapsed steelmaker

Chinese steelmaker Jingye has pledged to plough £1.2bn into British Steel after completing its acquisition of the collapsed manufacturer from receivers.

The Chinese company announced last November it was planning to rescue the business, which provides Network Rail with nearly all of the rail products it uses across the UK.

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