Tuesday , February 7 2023

Network Rail Mulls British Steel Rail Service Center Bid – The Telegraph for Business



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(Reuters) – A network rail has been announced for the UK's second largest steel producer, British Steel Rail Service Center, the Telegraph said on Saturday.

The government-owned network rail wrote a letter of intent to buy part of the company responsible for welding, finishing and storing the rail store for Britain's train network.

The measure of the network rail is one of about 10 bids to submit the official receiver, which took control of the British Steel last month, the newspaper said.

Banking and Industry sources told Reuters on Friday that the company has made a tourism in May, which has attracted interest from nine potential buyers, but for the extended period of 30 June, there is still a lower firm bid expected.

The closure of the production company that produces and produces high-cost products used in rail networks will endanger 25,000 jobs, including 5000 in the North West England scanthrop.

Network Rail promotes that another buyer takes on British steel while it sees many views, but the UK government and the receiver are eager to sell British steel to its buyers, as the telegraph adds.

Sources earlier told Reuters that due to the need of capital expenditure, potential buyers would be ready to take the entire company for any normal amount to become profitable after the years of investment.

Network Rail and British Steel do not respond to requests for comments outside of regular business hours.

(Reported by Bhargava Acharya in Bangalore; edited by Jonathan Otis)

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