The Hamilton Spectator reporting the provincial government is offering to take responsibility for hundreds of hectares of polluted land around Stelco in order to get a U-S company to buy the steelmaker.
A source close to the negotiations says Bedrock Industries has been clear, it will not buy the bankrupt company if it may be on the hook for future clean up costs.
As part of the deal, 325 hectares of land off Wilcox Street, would become part of a trust administered in part by the province.
Part of that land would then be leased back to the new owner of Stelco.
Bedrock is reportedly willing to put up $80 million as a one time payment to help with future clean up costs.