Jindal Group likely to send team to assess Thyssenkrupp Steel assets

A delegation from Jindal Steel International is expected to visit Germany soon to evaluate various financial and operational aspects of thyssenkrupp Steel's assets, in which the Naveen Jindal-led group entity has expressed interest.

In September, Jindal Steel International submitted a non-binding offer to thyssenkrupp AG and initiated discussions for the potential acquisition of its steel division.

According to industry sources, the company is now preparing to send representatives to Germany to conduct an in-depth assessment of the thyssenkrupp Steel facilities.

The evaluation will include a technical review of plant machinery and a broader analysis of the business operations. Sources added that discussions may also be held with workers at the site, as thyssenkrupp Steel is believed to carry a pension liability of approximately 2.7 billion euros.

The steel facility in question, located in Duisburgabout 550 km from Berlinhas an annual production capacity of around 11 million tonnes (MTPA) and is approximately 50 years old.

Jindal Group is a diversified industrial house with investments in steel, energy, and mining across multiple regions. The acquisition of this steel unit would expand its global footprint.

Narendra Misra, Director of European Operations at Jindal Steel International, had previously said: "We believe in the future of green steel production in Germany and Europe. Our goal is to preserve and grow thyssenkrupp's 200-year industrial legacy and help transform it into Europe's largest integrated low-emission steelmaker."  An email sent to Jindal Group seeking a response remained unanswered.