British Steel resumes control of key asset as it aims for global expansion

The facility, which is a key part of British Steel’s operations, was run by the manufacturer until 2018 when its then owners agreed to pass control to ABP.

A spokesman said: “Now British Steel is under the ownership of the Jingye Group, it has agreed to take back running of the terminal which handles millions of tonnes of its raw materials each year.

British Steel’s CEO Ron Deelen said: “The return to British Steel of an important strategic asset like Immingham Bulk Terminal is another significant step forward for our new business.

“IBT handles iron ore, coke and coal en route to our manufacturing headquarters in Scunthorpe so this deal strengthens our control over this vital part of our supply chain.”

The terminal, on the west side of the port, can handle up to nine million tonnes of raw materials a year to support steel production. Under the terms of the agreement, 36 employees are transferring to British Steel from IBT Ltd, which is owned by ABP.

Mr Deelen said: “I’d like to welcome everyone into the business and look forward to continuing to work alongside ABP in an exciting new chapter in our history. With Jingye’s investment behind us, British Steel can play an important role in the future recovery of the UK economy.

“Our new owners have strengthened our global reach while domestically we’re ready to play a significant role in major infrastructure projects like HS2, which requires large quantities of high quality products like our rail and constructional steel.”

Simon Bird, ABP Humber Director, said: “The Port of Immingham plays a vital role in the work of steel manufacturing in the Scunthorpe facility.”

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