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Jindal Steel International has exited the bidding process for Italy’s Ilva steel plant in Taranto, once Europe’s largest steelmaking facility.
Out of ten initial bidders, only two remain—Bedrock Industries (US) and a consortium of Flacks Group (US) and Steel Business Europe (Slovakia)—both seeking to acquire Ilva’s full assets.
The withdrawal of Jindal Steel and Azerbaijan’s Baku Steel is a setback for the Italian government, which has long struggled to manage Ilva’s financial instability, environmental issues, and operational challenges.
Reports indicate Jindal Steel is now focusing on the possible acquisition of Germany’s Thyssenkrupp steel unit, marking a shift in its European growth strategy.
Italian unions have criticized the tender process, branding it a “failure” and urging the government to nationalise Ilva to avoid what they describe as an “economic and environmental disaster.”
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