Jindal Steel International, a subsidiary of India’s Jindal Steel Limited, has officially submitted a non-binding offer to acquire the steel business of Germany-based Thyssenkrupp AG, the company announced on Wednesday, September 17.
€2 billion green steel investment in Duisburg
The proposal includes completing the direct reduction iron (DRI) project in Duisburg and building additional electric arc furnace (EAF) capacity, with a financial commitment exceeding €2 billion.
“We believe in the future of green steel production in Germany and Europe. Our aim is to preserve and grow Thyssenkrupp’s 200-year industrial legacy while transforming it into Europe’s largest integrated low-emission steelmaker,” said Narendra Misra, director of European Operations at Jindal Steel International.
Thyssenkrupp Steel Europe: a strategic business under review
Thyssenkrupp’s steel division, Steel Europe, generated $10.5 billion in revenues in FY 2024-25, accounting for 27.5 percent of the group’s total $38 billion revenue. However, the unit has long been under strategic review, facing weak demand, rising costs, and heavy decarbonization investment needs, according to analysts.
In response to Jindal’s offer, Thyssenkrupp AG’s executive board said it will carefully assess the proposal, with a focus on economic sustainability, green transformation, and employment at German steel sites.
Jindal Steel’s global footprint
Jindal Steel is part of the family-owned Naveen Jindal Group, operating across Europe, Asia, Africa, and the Middle East. The company generated approximately €12 billion in revenues in FY 2024-25, further strengthening its position as a major global steel producer.
