In a statement, the company said the new caster will improve internal and surface qualities of its billets, boosting its competitiveness and expanding its product offerings. The project is among GBP330 million in upgrades British Steel’s owner, China’s Jingye Group, has made in the business since acquiring it three years ago. 

Other investments include GBP26 million for a special profiles mast service center, which will allow British Steel to make and process an extended range of value-added profiles for the forklift industry, and GBP14.6 million for energy-related projects. 

"Steel is vital to modern economies and with demand expected to grow over the coming decades, British Steel has a vital role to play in ensuring the U.K. has its own supply of high-quality steel. To make sure we can deliver the steel Britain requires, we’re undergoing the biggest transformation in our 130-year history,” said British Steel chief executive Xifeng Han. 

The announcement comes as the company presses the U.K. government for help with nearer-term energy and carbon costs and its longer-term decarbonization goals.