Sanjeev Gupta adding French plant to Liberty Steel empire

Steel tycoon Sanjeev Gupta will add a former British Steel plant in northeast France to his Liberty Steel metals empire. 

The entrepreneur has been given permission by authorities in Paris to buy the Hayange factory, which is a key supplier to the country’s train network. Chinese group Jingye paid £50m for British Steel in a rescue deal earlier this year. 

Spending spree: Sanjeev Gupta has been given permission by authorities in Paris to buy the Hayange factory

But the French authorities blocked a takeover of the Hayange plant, long seen as a jewel in British Steel’s crown, over concerns about Chinese groups buying strategically important companies. 

As well as snapping up the Hayange plant for an undisclosed sum, Liberty Steel is buying the Ascoval steelworks in northern France. 

This was also owned by turnaround group Greybull, which owned British Steel before its collapse.