JSW Steel, the biggest steel producer in India, will submit an offer for taking over ArcelorMittal’s steel plant at Galati in Romania, according to sources quoted by Reuters.
JSW will compete with Ukrainian group Metinvest and Italian group Marcegaglia for this asset.
ArcelorMittal, the biggest steel producer in the world, has put its plant at Galati on sale together with five other assets, to get the European Commission’s clearance to take over the Ilva steel plant in Italy, the biggest in Europe. Bank of America-Merrill Lynch is in charge of this sale, which ArcelorMittal plans to finalize by the end of this year.
ArcelorMittal Galati has an annual production capacity of 3.4 million tons of steel and some 5,600 employees. In 2017, the plant had a turnover of over EUR 1 billion and EUR 33 million in losses.