Chinese firm set to save British Steel in £70m deal

A Chinese industrial giant is set to seal a deal to salvage British Steel from administration safeguarding up to 4,000 jobs.
China’s iron and steel giant Jingye Group is understood to have agreed a rescue deal worth around £70m with the Government’s Offcial Receiver which is running the business.
It is reported that Jingye is aiming to increase production at Scunthorpe from 2.5m tonnes per year to more than 3m, if a deal can be struck with the Government.Jingye, which is a spec