The Government could be set to sign off a £500m aid package to secure the future of steel making in South Wales.

Sky News reports officials are close to agreeing the aid package with Tata Steel – which would also see the steel producer’s Indian parent company invest £700m into the Port Talbot site which will secure thousands of jobs.

As part of the deal, it is thought Tata Steel will also invest £700m into its Port Talbot site, which employs around 4,000 people.

The company employs around 8,000 people in the UK, with around 3,000 jobs expected to be lost over the long-term.  

The deal could be finalised by as soon as this month, according to reports.

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