Tata Steel and the UK government on Friday announced a £1.25 billion investment proposal, which included a government grant of £500 million for decarbonising Port Talbot (south Wales), the primary steelmaking site in the UK, which has largely been a drag the past 16 years. In a video conference, Tata Steel Executive Director and Chief Financial Officer Koushik Chatterjee discusses with Ishita Ayan Dutt the next steps in the process, how the structural issues of the plant are going to be fixed, and the impact of the carbon border adjustment mechanism. Edited excerpts:
Is the grant from the UK government lower than what you had asked for?
When we engaged with the government three years ago, the project configuration was