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big smile on hoot's face tonightLONDON (AFP) ? Indian-owned steelmaker Corus will invest 185 million pounds to rebuild a blast furnace in south Wales


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LONDON (AFP) ? Indian-owned steelmaker Corus will invest 185 million pounds to rebuild a blast furnace in south Wales, the company announced on Monday in a move that is set to safe-guard jobs.

 

The investment at the Port Talbot steelworks, equivalent to 225 million euros or 289 million dollars, will begin in July 2011 and aims to increase the facility's output by up to 400,000 tonnes a year, Corus said in a statement.

 

The company is owned by India's Tata Steel -- the world's eighth-biggest steelmaker.

 

is hoped to extend the steel plantslife-span by 20 years.is hoped to extend the steel plants life-span by 20 years.

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