Jindal Group, an Indian conglomerate, is in advanced talks to acquire a 100% stake in Czech-based Vitkovice Steel through its subsidiary, Jindal Steel International. The acquisition, valued at around €150 million (approximately ₹1,000 crore), is expected to be finalised by the end of this fiscal year. This deal will mark Jindal Group’s first acquisition in Europe.
The acquisition is part of Jindal’s strategy to strengthen its presence in the European market, which is increasingly focusing on sustainable manufacturing through initiatives like the Carbon Border Adjustment Mechanism (CBAM). The acquisition is seen as a move to align with green steel production efforts, in response to growing environmental regulations in Europe.
Jindal Group already operates in several international markets, including Australia, Mozambique, and Oman, where it is active in steel, power, and mining. Additionally, the group is setting up a hydrogen-based steel manufacturing plant in Oman under its subsidiary, Vulcan Green Steel (VGS), to further its commitment to sustainable steel production.
The acquisition of Vitkovice Steel will position Jindal Group to gain a foothold in the European steel sector, which is adopting more stringent sustainability practices. This expansion aligns with the group’s global growth strategy and reinforces its commitment to green steel production, which could open new opportunities in the European market.