Iron and Steel: Wales
(asked on 12th October 2026) - View Source
Question to the Department for Business, Innovation, Science and Trade:
To ask the Secretary of State for Business, Innovation, Science and Trade, pursuant to the Answer of 4 September 2026 to Question 26359 on Iron and Steel: Wales, what information his Department holds on the total value of financial support provided to steel companies and projects in Wales through (a) direct government support and (b) the National Wealth Fund, both in total and separately.
Answered by
Blair McDougall
Parliamentary Under-Secretary of State (Department for Business, Innovation, Science and Trade) (Jointly with the Department for Energy Security and Net Zero)
Through the steel strategy, we are creating a more competitive business environment for steel companies in Wales and across the UK. This Government is investing in the Welsh steel industry with £500m for the transformation of Port Talbot, alongside over £100m for local community transition support. 7 Steel UK (formerly Celsa Steel UK) has been awarded over £20 million in grant funding by the Industrial Energy Transformation Fund (IETF) for several projects to improve energy efficiency while Swansea University will receive £11 million for their new 7-year steel research hub IGNITE.
For steel projects looking for investment, the National Wealth Fund (NWF) is actively seeking engagement with steel firms across the UK. Information on investments made by the NWF is a matter for the Fund, which operates independently in making investment decisions.