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Naveen Jindal Puts an Offer on Italian Steel Mill
02/10/2025 - Naveen Jindal is offering more than US$1 billion for Italy’s manufacturer Acciaierie d’Italia (ADI), which operates one of the largest integrated mills in the European Union, reports Manufacturing Today India.
According to the publication, Jindal aims to transform the steelmaker into an electric arc furnace-based producer.
“Jindal’s proposal faces competition from a consortium led by the Azerbaijani government and Baku Steel, which has pledged natural gas supplies to support ADI’s operations. Other bidders include U.S.-based Bedrock Industries and various Italian industrial groups, some of which are interested in specific assets rather than the entire company,” Manufacturing Today said.
Acciaierie d’Italia is on the sales block as the Italian government seeks a path forward for the business, which previously had operated a public-private partnership between ArcelorMittal and Italy’s state development agency.
“Jindal’s proposal faces competition from a consortium led by the Azerbaijani government and Baku Steel, which has pledged natural gas supplies to support ADI’s operations. Other bidders include U.S.-based Bedrock Industries and various Italian industrial groups, some of which are interested in specific assets rather than the entire company,” Manufacturing Today said.
Acciaierie d’Italia is on the sales block as the Italian government seeks a path forward for the business, which previously had operated a public-private partnership between ArcelorMittal and Italy’s state development agency.
