INTERESTS OF AFRICAN INDUSTRIES
Recently, Ziarul Financiar, A Romanian daily, revealed that that, African Industries, an Indian group, expressed their interests in taking over the factories owned previously by Mechel and located in Romania. When contacted by reporters, Tommaso Serano confirmed the talks with Invest Nikarom, the owner of the factories. Serano represents the Indian group in Romania. He revealed that African Industries made an offer for all the five factories including the ones in Laminorul Brăila, Oţelu Roşu, Câmpia Turzii, Ductil Steel Buzău, and Târgovişte. The offer includes also covering the debt of these five factories.
African Industries is active in Romania through African Steel Mills. This group invested EUR 150 million in 2010 for constructing a steel plant located in Oltenita. The unit of production was to be constructed on the premises of the previous thermal power plant in the region. The construction site included also some of the grounds of the old melting house Turol SA. The group had to destroy some existing constructions on the premises.