JSW's interest, which extends to plants including Gupta's Adhunik steel mill in eastern India, could mark yet another chapter for Britain's steel industry, which has been privatised and sold to overseas buyers as its pre-eminence slid in lock-step with the country's manufacturing might.
And no final decision had been taken on whether to bid for what the source described as a "surprise package". Gupta was lauded as the saviour of steel in Britain who bought distressed assets in economically-deprived areas. His group has 35,000 workers, including 5,000 in Britain, and annual revenues of $20 billion.Any change of ownership of Liberty Steel, which employs around 3,000 people in Britain, will be politically sensitive.
The government said it was "closely monitoring developments around Liberty Steel and continues to engage closely with the company, the broader UK steel industry and trade unions".
A Call to Protect the Nature! Thread: