The owner of Britain’s biggest steelworks will reveal the fate of thousands of its workers as the government prepares to inject £500m to produce “greener” steel.

Tata, the Indian conglomerate that owns the Port Talbot steelworks in south Wales, has been in talks with the Government for months over state aid worth hundreds of millions of pounds to help switch the plant’s two coal-fired blast furnaces to electric arc versions that can run on zero-carbon electricity.

Unions fear the move could lead to around 3,000 job losses, mainly at Port Talbot.

In an announcement today, ministers are expected to say the deal is intended to secure the survival of the plant which employs half of Tata Steel’s 8,000-strong workforce.

It comes after Tata, which owns Port Talbot in Wales, fell from an £82m profit in 2021 to a heavy loss last year as the cost of everything from energy to raw materials like iron soared, newly published accounts said.

Read the latest updates below.