.gif)
The investment will increase capacity of the two blast furnaces by up to 400,000 tonnes per year.
The First Minister of Wales Carwyn Jones said: "I am delighted to hear that Corus are making this major investment in Port Talbot which has a long, proud history of steel making and is a vote of confidence in the productivity of both the management and the workforce.
"This move will make Wales a leader in sustainable steel production and shows a long-term commitment to the future of the Steelworks.
-- Advertisement --
"This news shows we can compete with the rest of the world when it comes to manufacturing and that steel will remain an important sector for Wales for many years to come."
The Deputy First Minister and Minister for the Economy Ieuan Wyn Jones said: "This decision is a major boost for Port Talbot and the Welsh economy.
"Despite the current economic challenges we face, this investment shows Corus' confidence in Wales and the skills of the staff at Port Talbot who have worked tirelessly over recent years to make this site more efficient, more productive and able to compete.
"This new investment also shows that the Welsh Assembly Government was right to support and work closely with Corus during the tough times to give Port Talbot a strong future.
"Corus is an important anchor company in Wales and we are pleased that it will continue to play a vital role as we implement our plans for economic renewal."
(CD/KMcA)
