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Indian steel producer Jindal Group has reaffirmed its interest in acquiring Liberty Galați, one of Romania’s largest steelmaking facilities, following chairman Naveen Jindal’s visit to the plant.The development comes after the second auction for Liberty Galați and Liberty Tubular Products ended without bids. The combined starting price had been reduced from €709 million to €463 million. Liberty Galați was valued at approximately €444 million, while Liberty Tubular Products carried a price of around €18 million.
Judicial administrators Euro Insol and CITR said negotiations with strategic steel industry investors would continue despite the unsuccessful auction. They are working with creditors to identify a suitable structure for the plant’s sale, restructuring and operational restart.
The Romanian government has also introduced measures that could allow state authorities to take over certain claims and transfer the steel plant’s assets into a special-purpose vehicle. This could help attract fresh investment and protect industrial employment.However, the acquisition process remains complex due to Liberty Galați’s heavy debt burden and a legal claim from Liberty Ostrava. Jindal Group’s continued interest could offer a potential route towards reviving the strategically important Romanian steelworks.
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