UK sells steel back to China
Now industry needs Tories to get behind it Oil = $70.86
BRITAIN have clinched a flagship deal to sell steel back to China.
British Steel won an order to supply the world’s biggest cargo port, which is being built in Shanghai.
The Scunthorpe-based firm are making thousands of tons of crane rails and other specialist parts for the £57billion Yangshan project.
Sources say cheap Chinese steel – blamed for crippling Britain’s once great industry – isn’t up to the quality needed.
The about-turn comes two years after British Steel rose from the ashes after Indian firm Tata Steel flogged the business for £1.
Peter Gate, British Steel managing director for special profiles, said: “We’ve developed a global reputation for quality.
“The Yangshan project is a highly prestigious development and, given the competition we faced, we’re immensely proud to have been awarded this contract.”
The deal sparked fresh demands for the Government to do more to back Britain’s steel industry.
The Tories have so far offered no promises to use only British steel in the Royal Navy’s new ships.
Anna Turley, Labour MP for Redcar, said: “This deal shows our steel is still competitive and in demand in a difficult global market. “With the right support from
government – backing British steel in projects like defence and HS2 rather than buying abroad – our steel industry will thrive.”
Nia Griffith MP, Labour’s Shadow Defence Secretary, said: “It is vital the MoD consider employment and economic benefits when making procurement decisions.
“All too often, we have seen large contracts shipped overseas.”
The Yangshan deep water facility will enable the port of Shanghai to handle huge container ships with depths of up to 15metres. The project started in 2002. monitoring service to all UK homeowners. They reckon inertia costs two million homeowners stuck on lenders’ standard variable rates an average £360 extra interest a month. The service monitor 11,000 mortgages from more than 90 lenders, comparing them with a borrower’s mortgage. If they calculate savings could be made, Trussle alert the borrower. SHARES in construction giants Kier jumped 15 per cent in the wake of Carillion’s collapse.
Kier, who had joint projects with Carillion, confirmed trading was going well and they remained on track to grow annual profits.
Kier have taken over responsibility for the High Speed 2 rail project, along with French partners Eiffage, and also the Highways England smart motorways scheme in which they were working with Carillion.