Definition: Generate an appropriate title for the given text. The generated title must be short and include the main topic of the text. The preferred titles are under fifteen words.
Input: Three Thai banks had control of the 870-acre Redcar plant since it closed in 2015 owing them money. Talks with the South Tees Development Corporation (STDC) had broken down but a deal for the whole site has now been confirmed. Tees Valley Mayor Ben Houchen said it was the "dawn of a new era". Mr Houchen, who is also the STDC's chairman, said the planning inspectorate's decision "draws a line under four years of land assembly, banks, legal fights, disagreements and false dawns". "This ruling is a huge step forward for the redevelopment of the former steelworks site and represents the dawn of a new era for the site," he said. Investment and regeneration Tata Steel Europe sold the steelworks site to Sahaviriya Steel Industries (SSI) in 2011, retaining the adjacent 1,420 acres. Ownership of that surrounding land was transferred to STDC in February 2019. The three banks have had control of the land on which the steelworks stand since SSI went into liquidation and the plant closed in October 2015. Mr Houchen said a deal had been struck in February to transfer the land and assets to the STDC. As part of the deal SSI agreed not fight the compulsory purchase order but the inquiry needed to continue so that a further 112 acres of land could be brought under the corporation's control, he said. STDC plans to attract investment and regenerate the site, creating up to 20,000 jobs over the next 25 years. Follow BBC North East & Cumbria on Twitter, Facebook and Instagram. Send your story ideas to northeastandcumbria@bbc.co.uk.

Redcar steelworks land deal agreed after purchase inquiry