There were signs last night that management and unions at the Ispat steel plant in Cork were nearing agreement on a set of proposals that might save the facility, writes Dick Hogan in Cork.

A union spokesman said no details would be revealed until after a joint set of proposals was made available to officials of Ispat International in London, who will meet the Tanaiste, Ms Harney, today. She said her visit to London was a last attempt to prevent 400 job losses at the Haulbowline plant and "to see what might be salvaged".

She has ruled out any Government involvement in a rescue bid. Ispat had demanded a 10 per cent wage cut, a ban on overtime and substantially increased production at the plant before last week's announcement of closure.

Since then the group of unions have put an offer of savings worth £29 million (#37 million) over the next 21 months to management, and it is now understood that in the latest round of talks this offer has been further improved.