The Chinese steel company Jingye Steel repeated its demand for compensation after the UK government completely nationalized British Steel in July 2026, warning that it would use all available legal means to protect its investment rights.
The compensation request remains without ответа
As previously reported by SteelOrbis, the UK government assumed operational control of British Steel in April 2025, while Prime Minister Keir Starmer subsequently indicated that full nationalization could follow. Jingye later requested compensation for its investment, although the company said it had not yet received any substantive response from the government.
In its latest statement, released on August 25, Jingye argued that the transfer of its assets in the UK to public ownership on the basis of emergency legislation without prior consultation or compensation did not comply with internationally accepted principles governing expropriation, could undermine investor confidence in the UK.
Jingye Company emphasizes the importance of investment and economic вклада
Jingye acquired British Steel in 2020, when the manufacturer faced bankruptcy and demanded to return the company to profitability within one year while investing in production modernization, restoration of blast furnaces and the return of outsourcing operations to its own office. According to Jinye, British Steel employed as many as 4,887 workers under its ownership, supported about 30,000 jobs across its supply chain, and paid a cumulative £1.03 billion. salaries and pensions and 180 million pounds of taxes.
Chinese Steel has called on the UK government to compensate for losses from the nationalization, adding that it will take the necessary legal measures if the dispute remains unresolved.
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