According to recent reports from British media, Tata Steel ’s British subsidiary is in trouble due to the epidemic raging around the world, and it is currently seeking support of £ 500 million in government loans.

It is reported that as early as March 11, the British government has issued a document announcing that it will invest more than 600 billion pounds in infrastructure construction from 2024 to 2025, which will benefit British steel producers. On March 17, the British government announced the implementation of the "New Coronary Pneumonia Business Interruption Loan Program" (including CBILS and CLBILS, respectively for small and medium-sized enterprises and large enterprises), and provided a total of 330 billion pounds of loans to enterprises affected by the epidemic and interrupted cash flow stand by. However, Tata Steel told the British government that given the long duration and impact of the epidemic blockade measures, the government's existing assistance measures may still not meet the needs of enterprises.

It is reported that the current loan limit (CLBILS) of the British government to help large enterprises through the epidemic crisis is 50 million pounds. Tata Steel expects that its British subsidiary will need at least six months to resume normal operations, with cash flow requirements of around 500 million pounds. Therefore, the Tata Steel UK subsidiary requested the British government to increase the loan ceiling from 50 million pounds to 500 million pounds. The loan will be repaid when steel demand recovers.

British Foreign Secretary Dominic Raab responded that the British Chancellor of the Exchequer is currently carefully studying this to ensure that the steel industry is provided with more targeted support in the new round of bail-out plans.

It is reported that Tata Steel's subsidiary in the UK has more than 8,000 employees.