Liberty Steel to Invest EUR 200 Million in Romanian Steel Plant

SEATTLE (Scrap Monster): Liberty Steel- GFG Alliance’s global steel manufacturing arm announced an investment of EUR 200 million over a period of next five years at the Galati steel plant in Romania, which it took over recently. The investment is aimed at boosting capacity and expanding product ranges offered by the facility.

The announcement to this effect was made by Sanjeev Gupta, executive chairman of Liberty House, while attending a ceremony at the plant. He reiterated the company’s commitment to long-term investment program in Romania.

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Meantime, the company intends to increase the plant’s production volume from 1.7 million tonnes in 2018 to over 2.1 million tonnes this year.  

Liberty Steel had completed purchase of seven major steelworks and five service centres across Czech Republic, Romania, North Macedonia, Italy and Belgium for a sum of EUR 740 million in July this year.