Port Talbot: Plaid Cymru call for Welsh ministers to take stake

About 4,000 people are empolyed at the Tata Steel plant in Port Talbot

Welsh ministers should take a stake in Tata Steel's Port Talbot plant and help it become a co-operative, Plaid Cymru's leader has said.

Adam Price called for intervention as speculation mounts about the plant's future.

But First Minister Mark Drakeford suggested the proposal was a distraction.

He said efforts were concentrated on discussions with the company and the UK government.

Tata is looking to sell part of its European arm, prompting concern from Welsh ministers.

The move would separate the UK and Dutch parts of Tata's business, which merged back in 1999.

But Conservative Welsh Secretary Simon Hart called for people to "resist dealing with speculation".

• 'Thousands' of jobs fears over reported Tata plans

• Tata Steel in government talks amid bailout reports

Mr Price told the Senedd: "The UK government is reportedly being asked to part-nationalise the company

"Isn't it even more important that the Welsh Government takes a stake in a company that is overwhelmingly Welsh-based, in terms of its workforce, so those workers and their communities have a seat at the table?"

He said the company should eventually resemble a co-operative.

Nationalisation 'first step'

"The only secure and sustainable future for Port Talbot and the other Welsh steel plants in the long run, is to return the ownership of the industry to Welsh hands".

He said it should be nationalised "as a first step", recapitalised, "and then finally to mutualise and create a Welsh steel cooperative".

Mr Price said Mondragon, an industrial, finance and retail group owned by workers in the Basque country, had indicated a "willingness to provide advice and support in establishing an employee owned business at Port Talbot".

"The efforts of the Welsh Government, are not going to be distracted into alternatives," Mr Drakeford responded.

"At this point, our efforts are concentrated on discussions with a company persuading the UK government, getting them properly around the table, finding a way forward that protects those communities and those jobs."