A British Steel plant located in northeastern France amid growing concerns over Chinese investment in Europe. The Chinese company has pledged to invest 60 million euros over the next five years in the railway production of Hayange, which produces rails for railways without resorting to government funding. The Jingye Group acquired the assets of British Steel in the UK and the Netherlands, but this acquisition does not include British Steel's French operations in Hayange. The acquisition of the Hayange plant is under negotiation with the relevant authorities in France.
A parallel sale process for the Hayanga site opened last year amid concerns in Paris over the future of the facility, which it views as a nationwide facility. According to media reports, the Strasbourg Tribunal accepted an offer from Liberty House, a private industrial group led by British businessman Sanjeev Gupta. The next step is the approval of the deal by the French Ministry of Finance.
Other parties interested in the Hayange plant were ArcelorMittal, Saarstahl of Germany, the Italian railway aggregates manufacturer JSW Piombino, and the French specialty steel manufacturer through their holding company Greybull Capital.
Hayange produces 250,000-300,000 tons. rails per year, most of them for the French national state railway company.
