The newly independent steel manufacturer, British Steel has recently completed a transfer which means
that they have a 50% stake in Redcar Bulk Terminal. The now independent company has completed the
transfer from Tata Steel.
The acquisition of this stake will help British Steel with their plans to expand the business and make sure
that they have a larger footprint. It is thought that the terminal will be ideally situated for the business
in terms of logistics as the Redcar Bulk Terminal is located close to the steel manufacturer’s Teesside
Beam Mill. The terminal is in an ideal and sought after location in the North East of the country and it is
thought that the new space will give British Steel a gateway to more routes across the globe. With Brexit
looming, it is great to see British industry thriving, and British steel taking on larger construction projects
around the UK like the Crossrail project, while also looking to expand their reach is great news for the
business and also for the construction industry.
The Redcar Bulk Terminal is now half owned by British Steel. The rest of the stake is managed by the
Official Receiver after the SSI unfortunately collapsed in October 2015. It is thought that there will be 79
people employed to work at the terminal and in will be operating along a 320-meter- long quay that is
capable of holding vessels that have a draft measuring up to 17m.
The people who are operating at the Red Car terminal have had to lay down firm groundworks in order
to manage the restructuring required to accommodate British Steel. It is thought that a North East
Terminal is prime location for companies who are looking to do business on an international scale.
British Steel acquiring a 50% stake in the terminal has made the future of the space more secure, which
is good news for one of the deepest ports on the East Coast.
