China's Jingye group is proming what it calls a 'new chapter' in the steel industry as it completes it's purchase of the troubled UK manufacturer British Steel.
The takeover promises to safeguard more than three thousand jobs in the town of Scunthorpe in northern England, after British Steel collapsed into insolvency in May last year.
Jingye is promising an investment of $1.5bn over the next decade to upgrade the plant and reskill workers.
CGTN is joined by Gareth Stace, Director General of the industry lobby group UK Steel, to hear his hopes for the deal and the future of steelmaking in Britains industrial north-east.
