The international steel and minerals group Liberty House has announced that it has signed an agreement with the Scottish government to acquire the Tata Steel plants at Dalzell and Clydebridge.
The agreement involves the Scottish government buying the plants from Tata steel and then immediately selling them on to Liberty for the same terms, incurring no cost to the taxpayer. Liberty in turn takes responsibility for reopening, operating and investing in the two sites as part of its wider strategy to build an integrated and sustainable steel business across the UK.
Liberty House chief executive officer Sanjeev Gupta commented that the agreement saves two great facilities in Scotland, adding that the Clydebridge and Dalzell plants will fit well into the company’s vision for an integrated, flexible and sustainable steel sector.