Jindal Steel offers thyssenkrupp AG potential acquisition and a future-proof solution for its entire steel business

Press release

Jindal Steel offers thyssenkrupp AG potential acquisition and a future-proof solution for its entire steel business

September 16 – Jindal Steel International (“Jindal Steel”) will enter into discussions with thyssenkrupp AG to acquire its steel segment thyssenkrupp Steel Europe (“thyssenkrupp Steel”) and confirms it has submitted a Non-Binding Offer for the company. Jindal Steel promises a combination of financial strength global steel expertise, and a clear vision for decarbonization as well as competitive steel production in Germany.

"We believe in the future of green steel production in Germany and Europe”, said Narendra Misra, Director of European Operations of Jindal. “Our goal is to preserve and grow thyssenkrupp’s 200-year industrial legacy and help transform it into Europe’s largest integrated low emission steelmaker”. Jindal Steel looks forward to a constructive dialogue with thyssenkrupp AG and its employee representatives.

Jindal Steel is part of the family-owned Naveen Jindal Group (“Jindal”), with operations spanning Europe, Asia, Africa and the Middle East. As one of largest and most renowned global steelmakers with extensive experience in both traditional and new steel manufacturing technologies, the Group combines financial strengths and a fully integrated “mine-to-metal" value chain. In the 2025 financial year, Jindal generated revenues of around €12 billion and delivered healthy profitability of 22% EBITDA Margin, supported by a strong balance sheet and low net leverage of €1.2 billion.

Jindal has presented a forward-looking concept for thyssenkrupp Steel that could help make decarbonisation more affordable. The plan would secure steel production in Germany and create new business opportunities. Among other things, the proposal includes completing the DRI project in Duisburg and establishing additional electric arc furnace capacity with a financial commitment of more than €2 billion.

"Our commitment is clear: with our investment capacity and global network, thyssenkrupp Steel would have a strong and competitive future in Europe, participating in global growth and corporate synergies, while supporting key downstream industries such as automotive”, said Narendra Misra.

The key points of the concept for thyssenkrupp Steel:

• Supply security: The hydrogen-ready DRI plant in Oman, which Jindal is currently building at a cost of around €2 billion and which is scheduled to start operations in 2027, will provide additional supply security for thyssenkrupp Steel’s capacity and accelerate the shift from traditional coal-based to low-carbon production technologies.

• Integrated ‘mine to metal’ value chain: Jindal intends to supply high-quality iron ore from its mines in Cameroon not only for its DRI in Oman, but also for the DRI facility under construction in Duisburg. This would integrate thyssenkrupp Steel into a fully integrated supply chain from mining to metal processing and ensure its competitiveness across all economic cycles.

• Investments in Germany: Jindal plans to invest in additional new electric arc furnace capacity in Germany to supplement the DRI facility already under construction there. This would increase thyssenkrupp Steel’s low emission steel production in Germany significantly. Following the transformation, thyssenkrupp Steel would become the largest low emission steel producer in Europe.

About Jindal Steel (International)

Jindal Steel (International) is the international steel arm of the Naveen Jindal Group, a global industrial conglomerate with key assets in the steel, energy and mining sectors. With an annual production of 12.6 million tons of steel and investments of around €25 billion, the group is actively expanding its global capacity. Its goal is to increase steel production to 30 million tons per year by 2030, with a focus on sustainable solutions. The Group’s present geographical footprint spans across India, Europe, Middle East and Africa and its international portfolio includes one of the largest integrated steel companies in India, the largest metallurgical coal mine in Africa along with integrated logistics, as well as the largest private steel manufacturing plant in the Gulf region.

Press contact

Brunswick Group

E-Mail: jindalsteel@brunswickgroup.com

Alberta von Brandenstein (+49-172-6614 537)

Andreas Theyssen (+49-174-1902933)