Czech steel manufacturer Vítkovice Steel has revealed plans for major transformations. Jindal Steel International, a division of the globally recognized Jindal Group, will become the new owner of the Ostrava-based company. The Jindal Group is renowned for its expertise in not only metallurgy but also in energy and mining industries.
Jindal Group is set to invest up to EUR 150 million in Vítkovice Steel in the coming years, with the primary objective of expanding the company’s production capacity for high-value-added steel sheets and products. This expansion is expected to create new job opportunities.
This investment became possible after an investigation, which had previously blocked the sale of shares in 2022 due to concerns over potential ties to Russia. The investigation, completed in July 2023, found no evidence of such connections.
Additionally, Vítkovice Steel aims to become a leading European producer of low-carbon rolled steel, minimizing its environmental impact. In support of this goal, the company has entered into an agreement with Oman’s Vulcan Green Steel to supply 1 million tons of "green" slabs per year. The final approval of the investment deal now awaits the decision of the Antimonopoly Committee.
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