Jindal Group in talks to acquire Vitkovice Steel for Euro 150 mn

22 Oct 2024 CW Team

To enhance its global footprint, India’s Jindal Group is negotiating to acquire a 100% stake in Czech-based Vitkovice Steel for approximately €150 million (around Rs 1,000 crore). The acquisition is expected to be finalized by the end of the fiscal year through Jindal Steel International.

This would mark Jindal Group's first acquisition in Europe. The Naveen Jindal-led conglomerate already has a notable presence in regions like Australia, Mozambique, and Oman across sectors such as steel, power, and mining.

Industry sources indicate that discussions are ongoing, with both parties actively engaged in finalizing the deal. The acquisition is strategically significant as it allows Jindal Group to establish a foothold in the European market, which is implementing measures like the carbon border adjustment tax (CBAM) to encourage the production of green steel.

Additionally, the group is in the process of setting up a hydrogen-based steel manufacturing unit through its subsidiary, Vulcan Green Steel (VGS), in Oman.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..