27 Apr 2012
Tata Steel pledges to invest millions
Carwyn Jones has returned from a trade mission to India with the promise of up to £800 million investment in Wales from Tata Steel over the next five years. Declaring his first trip to the country a major success, the Welsh First Minister said the group’s decision to invest should be seen as a massive vote of confidence in Wales.
The announcement follows a meeting in Mumbai between Mr Jones and Tata vice-chairman Balasubramanian Muthuraman, at which they discussed the company’s investment strategy for Wales. Mr Jones said: “Mr Muthuraman explained to me that Tata Steel plans to invest up to £800 million over the next five years in its Welsh facilities. This will be used to improve production, product mix, quality and product range.
“This is excellent news for our communities and a massive vote of confidence in Wales. “A first-class workforce, strong industrial relations and a mutually supportive relationship with the Welsh Assembly have all played a part.”