engineering: The rescue package will include beefed-up grants, indemnities and loans that could be worth as much as 300m, according to sources quoted by Sky News, according to The Guardian. A Turkish pension fund is considered to be the frontrunner to takeover the company's main plant in Scunthorpe and subsidiaries across Teesside, although a consortium which includes a leading civil engineering firm working in west Africa is also in the running after making a late bid. It is understood that the Department for Business, Energy and Industrial Strategy BEIS has agreed to substantially increase support to bidders for British Steel, which employs more than 4,000 people, after months of wrangling following the company's collapse into administration. Despite the late interest from elsewhere, the business secretary, Andrea Leadsom, is expected to approve exclusive talks with Ataer Holdings, a subsidiary of the Turkish military pension scheme Oyak. Ataer is believed to be the frontrunner after it committed to keeping all parts of the steel company together. An announcement that Ataer has won preferred bidder status could be made by the government's official receiver David Chapman and EY, which is managing the sale, as early as next week.
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