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The deal for a Turkish investor to buy up British Steel could be struck within weeks.

Exclusive talks with Ataer Holdings are "progressing well", Redcar Labour MP Anna Turley has claimed.

But a Chinese firm's efforts to re-enter talks with the Official Receiver have not been ruled out, she says, adding the government is "continuing to talk with anyone with interest".

British Steel went into compulsory liquidation in May, putting the jobs of thousands at risk including 700 people at Lackenby and Skinningrove .

(Image: Ian Cooper)

Several bids were received but Ataer Holdings emerged as the Official Receiver's preferred bidder; now it is hoped the firm will buy the business as a whole.

Earlier this month it was reported that Chinese steelmaker Jingye had approached ministers with a renewed bid to snap up the business.

Talks with Ataer could be concluded as early as November, Ms Turley has claimed, following a British Steel Support Group conference call on Wednesday with the Business Secretary .

She said: " “The government and the Official Receiver continue to work at pace and exclusive talks with Ataer are progressing well.

"Confidence for a successful agreement remains high and the intention is for this to be confirmed in November, subject to all approvals being reached."

(Image: Ian Cooper / Teesside Live)

She added: “There has been some media coverage suggesting that a Chinese company is trying to re-enter talks.

"Whilst the Official Receiver is in exclusivity with Ataer, the government continue to talk to anyone with interest.

“Ataer is speaking to all relevant parties and are continuing close engagement with special managers EY and the government.

"They have also invited the trade unions to Turkey to visit other sites that Ataer have turned around. It is reassuring to see Ataer’s credentials as long term investors looking at a generational business and not just short term return."

Tees Valley Mayor Ben Houchen said he was "confident" that reaching a deal by November was "achievable".

He said: "While the Official Receiver remains in exclusive talks with Ataer, it is only right that the Government talks

with other global steel companies who are interested in buying British Steel.

“As these Government talks continue my priority, as it has been throughout this process, is for a buyer to come

forward for the whole of British Steel.

"As I’ve always said, if this cannot be achieved then Teesside jobs must be protected and the company’s profitable

plants at Lackenby and Skinningrove saved.

“The company is still protected by a Treasury-backed indemnity, there has been no job losses, workers are still being

paid on time and in full and the company’s orderbook remains strong.”

Ms Turley said she raised the issue of the Turkish military incursion in northern Syria and "any impact of the British government halting arms sales to Turkey.

"The Minister made clear that this is a separate issue around an economic transaction and a long term investment commitment," she added.

“Once again, I want to thank the workforce for their fantastic efforts to support this process and improve the chances of a successful deal.

"The company continues to trade as normal with full support from suppliers and customers.”