Indian company Jindal Steel International, part of Jindal Group, acquired 100% of the shares of Czech Republic-based plate producer Vítkovice Steel
Jindal Steel International has officially become the sole owner of the Ostrava-based company VÍTKOVICE STEEL. The Czech Competition Authority (ÚOHS) approved the merger of the two companies, concluding that the acquisition would not result in significant disruption to market competition.
“This is a significant milestone for our company and Czech steelmaking. We believe that the new owner will bring stability, technological investments, and development toward sustainable production. This will further strengthen our position as a key European producer of low-emission steel,” said Radek Strouhal, CEO of VÍTKOVICE STEEL.
VÍTKOVICE STEEL has been collaborating with the Jindal Group for over a year in areas such as operational financing and the supply of low-emission steel slabs from Oman. These partnerships support the company’s goal of becoming one of Europe’s first producers of so-called green steel sheets. The Jindal Group plans to invest up to EUR 150 million in the Ostrava-based company, focusing on expanding production capacity and developing higher value-added products. These investments are expected to create new jobs. Over the past year of collaboration, the workforce at VÍTKOVICE STEEL has already increased by several dozen employees.
VÍTKOVICE STEEL is the largest Czech producer of steel plates and the only domestic manufacturer of sheet piles. The company employs over 800 people, with 70% of its production exported abroad.
Indinan company, Jindal Group is a global leader in steelmaking, energy, and mining, producing 12.6 million tons of steel annually and generating 7,000 MW of energy. The group employs over 50,000 people worldwide and plans to increase steel production to 30 million tons per year by 2030. Harssha Shetty, CEO of Jindal Shadeed Iron & Steel, stated: “The steel industry in the Czech Republic has a long-standing tradition. Vítkovice Steel has skilled employees, high-quality products, and a solid reputation. We aim to be a strategic investor, driving further development and expansion.”
By joining the Jindal Group, VÍTKOVICE STEEL becomes part of a global industrial expansion and the transition to more sustainable production. This step not only strengthens the competitiveness of Czech steelmaking but also represents an opportunity for the further growth of the Ostrava region and greater involvement of the Czech Republic in global sustainability initiatives.
Source: https://www.vitkovicesteel.com/
Provided by the team of CzechTrade Qatar