Ispat Group in talks to buy Bulgarian steel mill

Ispat Group in talks to buy Bulgarian steel mill

According to recent news in the market, London-based Ispat Group is near signing a deal to buy an ailing Bulgarian steel plant. Ispat Group's Indian company Global Infrastructure Holdings Ltd. (GIHL) has announced that the company is in the final round of negotiations with Bulgarian company Kremikovtsi AD. As previously reported by SteelOrbis at the beginning of September, GIHL is said to be ready to invest more than €300 million in the Bulgarian steel mill. When the deal for the 2.3 million ton per year steel plant is finalized, GIHL's annual steel output will increase to 12.3 million tons.