Ym mis Medi 2023, gwnaeth TSUK a Llywodraeth y DU gyhoeddi cytundeb ar y cyd o'r diwedd i fuddsoddi mewn ffwrnais bwa trydan fodern ar safle Port Talbot, gyda buddsoddiad cyfalaf o £1.25bn gan gynnwys grant gan Lywodraeth y DU o hyd at £500m. Roedd y cynigion yn cynnwys ailstrwythuro busnes TSUK ac yna buddsoddi mewn technoleg bwa trydan.  Nid oedd Llywodraeth Cymru yn rhan o'r trafodaethau arweiniodd ar y cytundeb hwn.
In September 2023, TSUK and the UK Government finally announced a joint agreement on a proposal to invest in state-of-the-art electric arc furnace steelmaking at the Port Talbot site, with a capital investment of £1.25bn including a grant from the UK Government of up to £500m. The proposals included a restructuring of the existing TSUK business followed by an investment in electric arc technology.  The Welsh Government was not party to any discussions around this agreement.