India, April 11 -- Britain's government is racing to rescue the nation's final operational blast furnace steel plant in Scunthorpe, amid the looming threat of closure that could jeopardize 3,000 jobs in traditionally industrial regions.
In an emergency move interrupting the Easter recess, lawmakers will debate new legislation on Saturday that would empower Business Secretary Jonathan Reynolds to assume control of British Steel, currently under Chinese ownership by Jingye Group.
The proposed Steel Industry Bill aims to secure the Scunthorpe site-the only remaining facility in the country producing virgin steel-by giving the government authority to direct the company's board, guarantee workers' wages, and supply the necessary raw materials ...