The process, considered one of the largest industrial asset sales in recent years, is expected to have direct impacts on the construction sector and public finances.
According to information reported by Ziarul Financiar, Remus Borza, Chairman of Euro Insol, the company’s insolvency administrator, announced that the international auction will be held on 12 March and that the tender specifications will be finalized shortly. Borza stated that the participation guarantee has been set at 7%. The asset valuation was carried out by Romania-based Darian, a company specialized in industrial and real estate assessments. So far, 13 investors are reported to have expressed interest in the facility.
Interested parties include industrial groups from India, China, Türkiye, Ukraine and Iraq, as well as Romania’s UMB Group. Potential bidders listed include India’s JSW Steel and Jindal Group, China’s DeLong Steel, Türkiye’s KMC Steel, Iraq’s Galiawa Group and Ukraine’s Metinvest. Metinvest began operations in Romania after acquiring ArcelorMittal Tubular Products Lași in December 2025.
The strong interest from major industrial groups highlights Liberty Galați’s continued attractiveness despite the financial difficulties it has faced in recent years. The company, part of the Liberty Group controlled by Indo-British investor Sanjeev Gupta, entered into a preventive restructuring agreement in March 2024 to avoid insolvency. However, operations at the plant have declined sharply since then. Around 3,300 employees are reported to have been laid off, fewer than 200 staff remain on duty, and wages have reportedly not been paid for more than two and a half months, leading to social tensions among workers.
According to Ministry of Finance data, Liberty Galați’s financial performance has weakened significantly in recent years. While the company generated revenues of over 9.3 billion lei and a profit of around 1.36 billion lei in 2021, it began posting losses in subsequent years. In 2023, losses exceeded 2.2 billion lei, while revenues fell to 3.65 billion lei. In 2024, revenues declined further to approximately 2.1 billion lei, with losses remaining above 1.6 billion lei.
The state is among the company’s largest creditors. The tax authority ANAF is owed around EUR 150 million, while EximBank has claims of approximately EUR 300 million. The recovery of these amounts is largely seen as dependent on the success of the sale process. As both a creditor and an active participant in the restructuring process, the state has assumed a significant level of risk.
Since September 2024, the government has been closely monitoring the process through an interministerial committee to manage the situation of the facility, which is considered strategically important for construction, maritime activities and major infrastructure projects. Authorities aim to restart operations at the plant following the completion of the sale and to support regional employment.
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