A European consortium led by trading company Steel Mont has proposed a toll processing agreement and potential acquisition of Romania’s currently idled Liberty Galati plant, Steel Mont said on 3 October.
The proposal, submitted to the company’s administrators on 23 September, outlines plans for a plate operation restart. Steel Mont stressed that the restart of the steelworks is critical for Romania’s steel supply independence, particularly for such sectors as defence, shipbuilding, energy and infrastructure.
The EU’s access to imports is expected to decrease significantly next year due to stricter quotas and higher duties proposed in replacement of existing safeguard measures as well as due to the introduction of the carbon border adjustment mechanism (CBAM) from 2026, market sources said.
The proposal includes raw material supply, tolling operations, and offtake of finished products, as well as the option for a potential future acquisition of the Galați steel plant.
“The consortium brings together international expertise, raw material security, and financial strength, with SteelMont at its core,” the company’s statement said.
Romanian authorities decided in mid-September to establish an inter-ministerial committee to preserve state interests in the Liberty Galati steelworks and to prevent bankruptcy.
Liberty Galati has remained idled since a failed restart attempt in June this year.
The steelworks’ capacity is 3 mt of steel per year.
Maria Tanatar Associate Director, Steel and Green Steel
