Naveen Jindal weighs bid for EU firm Celsa

Naveen Jindal, chairman of Jindal Steel, is considering a 5-billion bid for European steelmaker Celsa to enhance his operations. The discussions are at a preliminary stage and could attract competition from other bidders. Celsa, headquartered in Barcelona, has a manufacturing capacity of 7.5 million tonnes and is focused on long steel products. The creditors controlling Celsa have invested significantly to stabilize the company's finances after a lengthy restructuring.