Jingye Group Promises to Ramp up Production at the Scunthorpe Steelworks of British Steel

Release time：Nov 07, 2019 From：admin

The Daily Mail Chinese Jingye Group r bidding to save British Steel has promised never to sell the UK company if its rescue plan succeeds. Jingye Group has also vowed to ramp up production at the Scunthorpe steelworks and pour as much money into the ailing plant as it needs to keep going. In a presentation delivered to UK officials on October 29, Jingye chairman Li Ganpo appears to offer to write a blank cheque. A slide seen by the Mail read “Jingye will invest to improve the equipment, boost the efficiency and increase the production for British Steel. All equipment must be in good condition. Need funds? No problem. Jingye is here to invest.”

The firm has emerged as the surprise front-runner to buy British Steel, which went bust in May, leaving thousands of jobs hanging in the balance. Jingye is aiming to strike a deal with the Government by the middle of this month

However, fears remain that plans to save British Steel may still come to nothing, pushing the company out of business, which would be a blow to its 5,000 workers and another 20,000 in the supply chain.