# Jingye plans £1.2B investment in British Steel

Jingye Group pledged to invest £1.2 billion in British Steel, including an Electric Arc Furnace in Teesside and a new 250MW power plant in Scunthorpe.

- Type: Investment
- Announced: 2020-03-09
- Where: Teesside and Scunthorpe, UK, United Kingdom
- Value: $1.56B (1.20B GBP)
- Status: announced
- Products: steel, electricity
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md), [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Jingye](https://endata.com/companies/39521.md)
- [British Steel](https://endata.com/companies/18188.md) (partner)

## Sources

- [britishsteel.co.uk](https://www.britishsteel.co.uk/jingye-completes-acquisition-of-british-steel/), 2020-03-09: "Jingye has pledged to invest £1.2 billion to place the business on a more competitive and sustainable footing."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.