Indian businessman rescues British steel mills

He wants to produce "green" steel from scrap metal in the UK.
Sanjeev Gupta, recently gave a banquet at Edinburgh Castle in honor of restarting one of the two survivors in Scotland steelworks. 45-year-old businessman of Indian origin has set an ambitious goal to shake the British steel sector - once powerful, but now is experiencing serious difficulties. Gupta, owner of Liberty House, turnover of close to $ 3.5 billion, the project intends to combine its metallurgy, engineering and green energy in the past year. "We bought one plant after another, now there are more than 30, and we saved them from collapse. Now they are all in positive territory, "- says the businessman. Gupta bought two historical plant in Scotland for a nominal sum of £ 1, after the former owner of the company Tata Steel, canned them. Gupta proposed a rescue plan assumed a fundamental change in technology at the flagship plant in South Wales, where about 3,500 people work. Entrepreneur proposed to replace two large blast furnaces that transform raw materials into molten iron for electric arc furnaces smaller, intended for remelting scrap. That model is the use of domestic raw materials and energy from renewable sources, according to Gupta, can update the industry.

Last Works

330 million pounds to pay for the purchase Sanjeev Gupta last UK aluminum plant, located in the Highlands of Scotland and owned by Rio Tinto

Skeptics offers Gupta raise questions whether this method to produce high quality steel will be possible, as well as provide jobs for hundreds of plant employees? In addition, EBITDA Liberty House made last year of $ 45 million, and one electric arc furnace is estimated at 100 million pounds. Gupta recently began talks with Tata about the acquisition for 100 million pounds located in South Yorkshire plant for the production of special steels, where the arc furnace is used.

Gupta was born in Punjab, 12 years old came to the UK to study at a school in Canterbury. His "first real job" in 1991 before entering the University has become a father for bicycle sales companies to export goods worldwide. To start your own business, start getting financial support from his family while studying at Trinity College, University of Cambridge Gupta. He sold all of Nigeria - from color TV sets and mosquito coils to dried fish and rice. Once he lost $ 10 million in one day on the failed transaction sugar supply. But in 1995 the company moved to Gupta's headquarters in Mayfair for 1.4 million pounds.

Gupta says that the largest surge of pride in the career he felt last fall. UK Steel sector has been shaken by a string of plant closures and reductions, and Liberty launched a rolling plant in Newport (South Wales), which was previously preserved. Liberty retained jobs for 130 employees of the plant, more than two years paying them half salary until repaired equipment and resolved legal issues.