Skip to content
Search

Latest Stories

Sanjeev Gupta to consolidate his steel empire

BRITISH Indian steel tycoon Sanjeev Gupta aims to consolidate his steel and mining businesses operating around the globe into a single company.

The company will be created as a single entity by the end of the year, comprising businesses accumulated worldwide by his Gupta Family Group (GFG) Alliance entity.


It will emerge as the eighth largest business in the world outside China, according to Gupta.

“A single global company with 18 million tonnes of rolled steel capacity annually is to be launched through a consolidation of GFG Alliance’s steel businesses, with an ambition to lead the industry towards a carbon-neutral future,” the company said in a statement on Tuesday (29).

The Liberty Steel Group, which altogether employs 30,000 people in 10 countries, will be incorporated through a merger of GFG’s upstream and downstream steel manufacturing, mining, and distribution businesses around the world.

Liberty Steel Group will be the eighth largest steel producer outside China, with operations stretching from Australia to continental Europe, the UK and the US, and it will have annual sales of approximately $15 billion.

Although individual businesses will retain a high degree of autonomy, consolidated accounts will be produced and a united strategy will be developed, the company said.

At the heart of the group’s mission will be an ambition to build on GFG’s existing green steel strategy to aim for net carbon neutral status by 2030 – placing Liberty Steel Group on the pathway to become the first carbon neutral steel company in the world.

This will include exploration of the best use of new technologies such as hydrogen generated from renewable power to produce steel.

The green steel strategy focuses on using electric arc furnaces to recycle scrap steel, rather than producing all material from scratch, as well as using renewable sources of energy.

Liberty’s plants already recycle three million tonnes of scrap steel annually, with investment underway in electric arc furnaces in the UK, Australia, and the US.

Speaking at World Steel Dynamics’ European Conference in Milan Sanjeev Gupta, Executive Chairman of GFG Alliance, said: “We are creating a new force in steel with the size, scale and agility to forge a path towards a sustainable future for our steel businesses and the communities in which we operate.

“Our integrated group will stretch around the world, with a financial and governance structure suitable for an intercontinental business of our size.

“Liberty Steel aims not just to produce top-quality steel but to be an agent of change in the industry. In doing so, we can open the door to the re-industrialisation of the developed world by reviving and restoring often neglected industry.”

Liberty Steel Group will include operations drawn from Liberty House in the UK, Liberty Steel Continental Europe, Liberty Steel USA, Infrabuild and Liberty Primary Steel and Mining Australia.

It will be organised in three divisions: Liberty Primary Steel, Liberty GreenSteel, and Liberty Engineered Steel.

More For You

modi-trump-getty
Modi shakes hands with Trump before a meeting at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Indian exporters watch closely as Trump says trade deal with India likely

THE US could reach a trade deal with India that would help American companies compete more easily in the Indian market and reduce tariff rates, President Donald Trump said on Tuesday. However, he cast doubt on a similar deal with Japan.

Speaking to reporters on Air Force One, Trump said he believed India was ready to lower trade barriers, potentially paving the way for an agreement that would avoid the 26 per cent tariff rate he had announced on April 2 and paused until July 9.

Keep ReadingShow less
Kolhapuri sandal sales surge in India post Prada controversy

Customers shop for 'Kolhapuri' sandals, an Indian ethnic footwear, at a store in New Delhi, India, June 27, 2025. REUTERS/Adnan Abidi

Kolhapuri sandal sales surge in India post Prada controversy

INDIAN footwear sellers and artisans are tapping into nationalist pride stoked by the Prada 'sandal scandal' in a bid to boost sales of ethnic slippers with history dating back to the 12th century, raising hopes of reviving a struggling craft.

Sales are surging over the past week for the 'Kolhapuri' sandals that have garnered global attention after Prada sparked a controversy by showcasing similar designs in Milan, without initially crediting the footwear's origins.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy grew 0.7 per cent in Q1 2025, fastest in a year

THE UK economy expanded at its fastest pace in a year during the first quarter of 2025, driven by a rise in home purchases ahead of a tax deadline and higher manufacturing output before the introduction of new US import tariffs.

Gross domestic product rose by 0.7 per cent in the January-to-March period, the Office for National Statistics (ONS) said, confirming its earlier estimate. This was the strongest quarterly growth since the first quarter of 2024.

Keep ReadingShow less
modi-trump-getty
Trump shakes hands with Modi during a joint press conference at Hyderabad House in New Delhi on February 25, 2020. (Photo: Getty Images)
Getty Images

Key issues in India, US trade talks

TRADE talks between India and the US have hit a roadblock over disagreements on duties for auto components, steel and farm goods, Indian government sources said to Reuters, dashing hopes of reaching an interim deal ahead of president Donald Trump's July 9 deadline to impose reciprocal tariffs.

Here are the key issues at play:

Keep ReadingShow less
Anil Agarwal

Vedanta Resources, which is based in the UK and owned by Indian billionaire Anil Agarwal, has been working on reducing its debt. (Photo credit: Getty Images)

Getty Images

Anil Agarwal’s Vedanta Resources signs £438 million refinancing deal

VEDANTA LTD said on Thursday that its parent company, Vedanta Resources, has signed a loan facility agreement worth up to £438 million with international banks to refinance existing debt.

The refinancing move, where old loans are replaced by new ones, often at better terms like lower interest rates, has led ratings agencies such as S&P Global Ratings and Moody's to upgrade their outlook on the company this year.

Keep ReadingShow less