First auction for Romania’s Liberty Galați steel plant ends without any offers

The auction for the Liberty Galați Steel Plant and Liberty Tubular Products took place on Thursday, March 12, without success. Although five investors purchased the tender documentation to take over the plant, no offer was submitted.

The Galați Steel Plant, the only integrated steel producer in Romania, was put up for sale for a starting price of EUR 709.1 million as part of the restructuring plans approved by the court. The plant, administered by the CITR - Euro Insol consortium at the moment, is located on an industrial platform of 1,600 hectares in Galați and has an annual capacity of up to 3 million tons of steel.

Since the first attempt failed, a second auction will be organized at a lower price, but not lower than the liquidation value of about EUR 407 million.

Previously, concordat administrator Remus Borza stated for Digi24 that if the sale does not take place this year, “it will not happen at all. Because every day that passes pushes us out of the market. We lose market share, clientele, and goodwill every day.” Even as idle, the plant consumes EUR 14 million per month. When it is fired up, it requires EUR 98 million per month due to the necessary raw materials, services, and so on, he argued.

The investors allegedly interested in the plant include the Ukrainian group Metinvest, the Indian producer JSW Steel, and the Turkish company KMC Steel. The list of potential investors also includes the Indian group Jindal and the Romanian company UMB.

The sale takes place at a moment of maximum social tension in Galați. Employees have not received their salary rights since October 2025, and most of them are currently in technical unemployment.

(Photo source: the company)