Jindal Steel & Power has reportedly raised its bid for an Italian steelmaker plant to about EUR 4 billion.
Feb 27, 2025
Jindal Steel has raised its offer for a troubled Italian steelmaker to about EUR 4 billion (USD 4.2 billion) to outbid the competitors, as per a media report.
The Indian steelmaker has proposed to the Italian government a payment of about EUR 1 billion for the assets and an investment of around EUR 3 billion to revamp the main steel plant in Taranto. The plant is currently operated at a reduced capacity.
A tender for the Italian steel plant was launched after a clash with operator ArcelorMittal returned the control back to the state.
Also Read: Jindal Steel & Power Announces Fresh Capex of INR 16,000 Crore
Bedrock Industries Management and a consortium formed by Baku Steel Co. and Azerbaijan Investment Co. are also bidding for the same.
