With its plants in Britain facing "severe cash burn", Tata Steel said this Monday it is working on a "priority" basis to review shutdown of its facilities in the country, including UK's largest steel plant at Port Talbot.
Tata Steel, one of the flagships of over USD 100-billion Tata Group, last week said it is exploring all options for portfolio restructuring, including potential divestment of Tata Steel UK, in whole or in parts, amid a deteriorating financial performance of the arm in the last 12 months.
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