It is reported that news that a Teesside led bid for Redcar's beleaguered steelmaking plant has been lodged with owner Corus should be seized on by government to force a deal.

That's the message Stockton MP Ms Dari Taylor will take to Business Secretary Mr Peter Mandelson when the committee she chaired through a highly contentious inquiry over the mothballing of Teesside Cast Products briefs Government on its withering findings.

Ms Taylor said that "The delight for me is that there are still people prepared to see TCP as an opportunity and not a cost. My hope is that TATA will realize that ultimately they will be finding partners or selling it."

A more advanced offer by an international group of investors, including steel buyers, is already believed to be on the table. But Ms Taylor said that the North East group, which includes the man behind the Wynyard business park development, Mr Chris Musgrave and supported by metals industry consultant Hatch Corporate Finance, was the opening Government needed to bring all the players to the table.

She said that "It's crucial for TCP not to sink. People are still talking about it, they are still concerned, they want it to reopen."

A Corus spokesman added that "Any meaningful approaches are welcome from potential strategic partners that have the necessary financial capability as well as a long term requirement for TCP's three million tonnes per year of slab and we will enter into good faith discussions with any such investor."

(Sourced from www.nebusiness.co.uk)