The Naveen Jindal-led Jindal Group is in discussions to acquire Vitkovice Steel, a Czech-based steel company, for approximately €150 million (around ₹1,000 crore), according to industry sources. This would mark the group’s first acquisition in Europe.
The Jindal Group, which already has a significant presence in Australia, Mozambique, and Oman across sectors like steel, power, and mining, is looking to expand its footprint in the European market. Acquiring Vitkovice Steel will allow the group to strengthen its position in Europe, where new regulations like the Carbon Border Adjustment Mechanism (CBAM) are promoting the production of green steel.
Sources indicate that the two sides are in active negotiations, with Jindal Group set to acquire a 100% stake in Vitkovice Steel as part of the deal. Vitkovice Steel is a Czech-based steel manufacturer with a long history in the steel industry, specializing in the production of heavy plates, sheet piles, and cut shapes.
Headquartered in Ostrava, the company is one of the leading European producers of rolled steel products, primarily serving sectors like construction, shipbuilding, energy, and engineering. Vitkovice Steel is known for its high-quality steel plates, which are used in various infrastructure and industrial projects across Europe and globally.
Over the years, the company has maintained a strong reputation for innovation and has adapted to evolving industry standards, including a focus on sustainability and environmentally responsible steel production.
The Naveen Jindal-led Group is one of India’s leading industrial conglomerates, renowned for its diverse business operations across sectors like steel, power, mining, and infrastructure. Under the leadership of Naveen Jindal, the group has expanded its global footprint, particularly through Jindal Steel and Power Limited (JSPL), which is a key player in steel manufacturing and power generation.
The company focuses on innovation, sustainability, and contributing to India’s industrial growth. Naveen Jindal, also known for his contributions to corporate social responsibility and national development, has steered the group towards pioneering initiatives in green energy, infrastructure development, and high-tech manufacturing.
