Reports over weekend claim Labour government has 'signalled a new intent' to unlock investment in low carbon electric arc furnace production at British Steel site
Company expected to secure £500m support package to help curb emissions, but trade unions warn move could put 2,000 jobs at risk
BusinessGreen rounds up the most widely read stories on the site this week
Chinese-owned steelmaker considering shift to electric arc furnace technology at sites in Scunthorpe and Teesside if it can secure UK government support
Green Alliance argues British Steel and Tata Steel should transition half of production to electric arc furnaces to receive public subsidy
Funds will reportedly be contingent on Jingye and Tata Steel retaining workers and moving away from traditional blast furnace operations
But the steel producer and trade unions call for urgent action and policy support to develop low carbon steel production in the UK if climate goals are to be met
Oyak, the Turkish pension fund giant, claims to be close to finalising the proposed takeover of troubled British Steel, which fell into liquidation in May
Plan to convert beleaguered Scunthorpe steelworks to produce less carbon intensive steel is being drawn up by interested buyer Ataer Holding, reports suggest