Tata Steel ‘can’t keep funding losses’ at UK’s loss-making Port Talbot plant: N Chandrasekaran
LONDON : The chairman of the Tata group N Chandrasekaran has said the steel conglomerate cannot have a situation where India keeps funding the mounting losses at its struggling Port Talbot steelworks in the UK.
He emphasised that the Port Talbot steelworks in Wales, one of the largest in Europe, needed to be “self-sustaining” in an interview with the Sunday Times.
The head of the 84 billion-pound turnover conglomerate that also owns British luxury automaker Jaguar Land Rover, refused to commit to continuing to make UK steel, the report said.
Chandrasekaran, 56, said, “I need to get to a situation where at least the plant (Port Talbot) is self-sustaining.”