Part of 1. Questions to the First Minister – in the Senedd at 1:46 pm on 9 March 2021.
The letter from Liberty Steel did not request additional funding from the Welsh Government; that wasn't the purpose of the correspondence. The purpose of the correspondence was to set out the difficulties that Greensill, the financial provider to GFG Alliance, has experienced, but to put on the table as well the strong current trading position of Liberty Steel Group. Steel prices in Europe are currently trading at a 13-year high and the aluminium market is more buoyant than it has been for some time past. In his letter, Mr Gupta makes it plain that factories that the alliance owns in these fields are operating at full capacity to meet high demand and generating positive cash flows. What the letter demonstrates, I think, is the close relationship that has existed between the company and the Welsh Government, and the confidence that the company wishes to continue to create in its future. We will work alongside the company in order to secure the jobs that it provides here in Wales and in order to secure the future of the sector more generally.