‘Landmark’ steelworks deal between Tees Valley mayor and SSI saves 90 jobs

Tees Valley mayor Ben Houchen has announced he has reached an agreement with SSI over the former steelworks land in Redcar.

The deal will see the 840 acres of land owned by SSI UK, along with all other assets on the site, acquired by and transferred to the South Tees Development Corporation, while 90 jobs have been saved at Redcar Bulk Terminal which will continue to operate as normal.

As part of the agreement SSI will not fight the CPO, in effect pulling out of the CPO process. The CPO process will continue however so that smaller parcels of land can be brought under the control of the Development Corporation.

In addition, the deal includes a plan to develop an electric arc furnace on the South Tees Development Corporation Lackenby site within three years.

Tees Valley Mayor Ben Houchen commented: “I am delighted that today we have reached an agreement with SSI to take back control of the site of the former Redcar steelworks.

“Thanks to the agreement we have reached, we can move forward in breathing new life into an area that was devastated following the steelworks’ closure in 2015. With the potential to create more than 20,000 jobs over the next two decades, today really marks the beginning of a new era.

“Those living across Redcar, particularly those in the shadow of the steelworks, the former steelworkers, their families and their communities, will have been waiting for this day to come. I am certain that the deal we have agreed will lead to a brighter and successful future for the area.”

Win Viriyaprapakit, CEO of SSI, added: “Over the last three weeks, we have been in intensive talks with Mayor Houchen and his team to deliver a solution that works for everyone involved, and I am pleased a deal has now been done.

“It is from these intense discussions that we saw Mayor Houchen’s integrity and character, and his commitment to the region. Based on that, SSI took the decision to secure a deal as we fully support Mayor Houchen’s vision for the site.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →