According to the report, Tata Steel announced to idle the Orb steel plant in Newport for a period of time instead of closing the plant as it was searching for a new buyer.

There were two companies interested in the plant, Big River Steel and Liberty Steel. Big River would like to use the plant but let another company operate it. Liberty Steel had a base in Newport and had been purchasing 10 sites from Tata in recent years. The company had been interested in taking over the plant.

Tata expected to cost £50 million to upgrade the plant, which would enable it to manufacture the type of electrical steel used in electric cars.

If the new buyer could be found, the UK and Welsh governments might be pleased to invest in the plan then.