Steel producer Liberty House plans to increase its U.K. steel output to 5 million tonnes in five years, Reuters reported Dec. 14, citing Executive Chairman Sanjeev Gupta.

The company is weighing its options to develop new furnaces in Scotland and the Midlands to help meet the target, as well as looking to ramp up production at its Newport facility in Wales.

Tata's specialty steel plant in Rotherham is producing about 250,000 tonnes per year, operating at between 20% and 25% capacity, and output can be increased to 1.3 million tonnes, Gupta noted.

Gupta added that due diligence on the £100 million deal for Tata Steel Ltd.'s specialty steel business should be completed by the end of February.