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U.K. Government Makes £500 Million Rail Contract to Save British Steel Jobs
06/18/2025 - The British government is in talks to finalize a £500 million rail steel deal between Network Rail and British Steel in an effort to protect thousands of jobs, reported Reuters.
The contract will have British Steel supply over 337,000 metric tons of rail track over a five-year period, the government said. Beginning in July, the deal would provide Network Rail with 80% of its rail needs and build on the £2.5 billion steel fund set up to boost steel production over the next five years.
"This is great news for British Steel and a vote of confidence in the U.K.’s expertise in steelmaking, which will support thousands of skilled jobs for years to come," said U.K. business minister Jonathan Reynolds.
In addition to the British Steel deal, Network Rail will award smaller contracts to various other European manufacturers for around 80,000 to 90,000 metric tons of rail to ensure security of supply, Reuters reported.
"This is great news for British Steel and a vote of confidence in the U.K.’s expertise in steelmaking, which will support thousands of skilled jobs for years to come," said U.K. business minister Jonathan Reynolds.
In addition to the British Steel deal, Network Rail will award smaller contracts to various other European manufacturers for around 80,000 to 90,000 metric tons of rail to ensure security of supply, Reuters reported.
