Up to 800 jobs could be created in the UK’s steel industry after the takeover of a Middlesbrough steel works by Thailand’s biggest steelmaker.

Sahaviriya Steel Industries (SSI) paid India’s Tata Steel £291m ($469) to take over Teeside Cast Products.

SSI plans to hire the new staff over the next six months as it restarts full-scale steelmaking at the plant. The deal secures 700 existing jobs on Teeside.