SIMEC, the international energy business that is part of Sanjeev Gupta’s GFG Alliance, is pleased to announce that its Kinlochleven hydro-electric power station has increased generation to its highest level for nearly 20 years following a recent upgrade to capacity.
LIBERTY Steel Group today announces the formation of a new board of directors as it completes the consolidation of its global businesses.
The board will oversee the group’s strategy and investments, including LIBERTY Steel Group’s goal of becoming a carbon neutral company by 2030.
The group is to be chaired by Sanjeev Gupta, with executives drawn both from within the GFG Alliance family of companies and beyond with independent non-executive directors appointed, bringing external expertise into the group.
The immediate focus of the board will be to weather the economic storm brought about by the COVID-19 crisis and to ensure the business is well prepared for the recovery when it comes.
Executive Chairman, Sanjeev Gupta, said: “This is an important step as we complete the consolidation of GFG Alliance’s steel businesses into LIBERTY Steel Group. I’m proud of the leadership team we’ve brought together, which comprises some of the most experienced names in the global metals industry. The immediate focus of the LIBERTY Steel Group board will be to manage the impact of COVID-19 on our people, operations and customers, and ensure the group is well prepared for the recovery when it comes.”
Read the full media release on the LIBERTY Steel Group website
Jahama Highland Estates has appointed Chloe Malcolm as manager of its 12,000 acres of upland farming operations in the Glenshero and Inverlair areas.
Chloe, 25, was born and brought up on a local Highlands farm and has experience in farming in Devon, Dumfries and on the Isle of Bute.
Her appointment, at one of Scotland’s largest hill farming operations, represents a departure from the usual demographic for a farm manager.
Only 16% of farm managers in Scotland are female, and only 4% are younger than 35.
Read the full media release on the JAHAMA Highland Estates website.
LIBERTY Steel Group is investing in the young engineers of the future with the announcement that its Speciality Steels business in South Yorkshire is hiring a new group of apprentices for the upcoming academic year.
GFG Alliance today completed the strategic acquisition of Adhunik Metaliks Ltd (Adhunik) and Zion Steel Ltd (Zion) in a Rs -4.25 bn ($60m) cash deal. The transaction marks the Alliance’s entry into India – one of the world’s fastest growing steel markets.
GFG Alliance will introduce its GREENSTEEL model to revive the steel plants – combining steel recycling with low carbon and renewable power sources – to create a more sustainable, competitive operation serving local markets.
Commenting on the acquisition, the Indian-born British businessman and Executive Chairman of GFG Alliance, Sanjeev Gupta, said: “Today marks an important milestone in our global steel strategy with the purchase of Adhunik Metaliks and our entry into India – one of the fastest growing and most vibrant steel markets in the world. We see huge potential in this business through the introduction of our GREENSTEEL model to create a competitive, sustainable operation to serve the local market.
“It has been a challenging journey to get us to this stage, but we now look forward to starting work in partnership with all stakeholders to revive these plants and bring employment back. On a personal note, it is great to be investing in the country where my family began in the steel industry a generation ago.”
Adhunik is an integrated steel plant located at Chadrihariharpur near Rourkela in Odisha. The plant has both blast furnace and Electric Arc Furnace steel making capability with 0.5 million tonnes per annum capacity, and a 34MW captive power plant. Adhunik along with Zion Steel, its associated steel rolling facility, has a combined rolling capacity of 400k tonnes per annum. The sites produce products for the automotive, energy, engineering and oil & gas sectors.
The immediate focus will be on reviving and restoring the facilities and operations, and once stabilised the business will begin its integration into the LIBERTY Steel Group. In October 2019 GFG Alliance announced the consolidation of its steel businesses into one global entity – the LIBERTY Steel Group – the 8th largest steel producer in the world outside China, with operations in 200 locations in ten countries. LIBERTY Steel Group has a target to become carbon neutral by 2030 (CN30).
International property and investment business JAHAMA Group is today announcing plans to develop its first hotel after recently receiving pre-planning consent from South Lanarkshire Council for a full-service 100-bedroom facility in Clydebridge on the outskirts of East Glasgow.
Investment in hospitality facilities is part of JAHAMA’s wider strategy to develop surplus land around existing and former industrial sites for a range of property uses, which enhance local communities while also bringing employment and tourism to the area.
South Lanarkshire Council’s support follows a pre-application enquiry submitted by JAHAMA last September. The scheme is for redundant land to the east of sister company Liberty and its iconic Clydebridge Steelworks, situated to the north of Cambuslang.
Once built, Clydebridge Hotel will deliver 50 permanent jobs and help create further indirect jobs in the wider community. UK property and development expert Strutt & Parker (part of the BNP Paribas Real Estate Group) has been appointed to advise JAHAMA on this project and secure planning permission for the development.
The 10-acre site benefits from a strategic road network including easy access to the M74, proximity to the River Clyde and a substantial area of woodland, providing opportunities for future guest amenities.
The plans for a full-service hotel are designed to offer a wide variety of activities to both leisure and business travellers as well as amenities to the local community. When developed, the site will include a restaurant, café, bar and state-of-the-art fitness club.
The east of Glasgow has undergone considerable regeneration over the last decade with the construction of buildings for the Commonwealth games such as the Athletes Village at Dalmarnock, Emirates Arena and The Sir Chris Hoy Velodrome. The wider Clyde Gateway regeneration project is also attracting plenty of property investment and additional businesses into the area, which the hotel will be serving.
JAHAMA’S CEO Dilip Awtani said: “We are delighted to be contributing to the huge regeneration activity that is currently taking place in East Glasgow. The recent investment in the infrastructure and recreational facilities will drive tourism and business activity to the city, create jobs and other benefits for the local community. This is why we believe that Cambuslang is an ideal location for a modern enhanced-services hotel and leisure facility.
“Our team has a wealth of property development and finance experience that can bring these plans to fruition and advance further commercial property developments, utilising the extensive land within JAHAMA’s portfolio.
“For this project, we would also be keen to partner with branded operators in the area or new to the city that can work with us to turn the hotel in Clydebridge into a popular destination.”
JAHAMA is part of a collection of industrial companies that form the GFG Alliance, which also includes the owner of neighbouring Clydebridge and Dalzell steelworks, Liberty Steel Group.
Sanjeev Gupta, Founder and Executive Chairman of the GFG Alliance said: “We are focussed on Scotland as a key area of investment, already deploying funds of £500m as recently set out in our Scottish Investment Report. The Clydebridge site was part of our first Scottish investment and I am pleased that the initial investment in the steel business is also bringing further local opportunities.
“We have recently received permission to build a zipwire leisure facility in the Highlands at Kinlochleven so the tourism industry is becoming an increasingly important part of GFG’s Scottish portfolio.”
Past and present employees of the UK’s only remaining aluminium factory gathered in Fort William today to mark the 90th anniversary of the Lochaber hydro-electric plant and smelter – one of Scotland’s best known industrial plants.
The factory, on the foothills of Ben Nevis, was acquired by the GFG Alliance for €330 million three years ago and produces up to 50,000 tonnes of aluminium annually, powered by renewable energy from fresh water running off the slopes of Scotland’s highest mountain.
Guests including Ian Blackford, the SNP Westminster leader, will today be treated to commemorative bottles of whisky from the local Ben Nevis distillery and a retrospective exhibition detailing the Lochaber plant’s colourful history.
Coinciding with the event, the GFG Alliance published its first Scottish report detailing industrial investment of £500m in six aluminium, steel and energy sites across the country, the creation or safeguard of over 400 jobs and spending of nearly £22m with local suppliers.
Sanjeev Gupta, Executive Chairman of the GFG Alliance, said: “The Lochaber complex was an engineering triumph, requiring 2,000 men to drive tunnels through the solid rock of the Ben Nevis range. That Highland ‘can do’ spirit has endured for generations as Lochaber has kept lights ablaze and provided high quality metal for use across British industry.
“I’m very proud that the GFG Alliance is not only keeping that tradition going in Lochaber but is investing in staff, capacity and in downstream manufacturing. This is a very special place and it’s a privilege to be a part of its history. As we drive this project forward we have added forty people to our Fort William team.
“The model we see here – of renewable energy powering heavy industry – is at the very heart of GFG’s vision for the renewal and revival of foundation industries not just in Scotland but internationally. Our goal is for our steel businesses to be carbon neutral by 2030.”
The Lochaber smelter has long played an important part in the local community. Under GFG’s ownership, initiatives have included:
Liberty has invested nearly £5 million in preparatory work for a downstream manufacturing plant in Fort William. Options under consideration include an automotive wheels plant or, in view of a downturn in UK car production, alternative industrial uses for the liquid aluminium produced in the Lochaber smelter – such as industrial extrusions or water bottles.
Amanda Mackenzie, chief executive of Business in the Community, said: “You can’t fail but to be inspired by the scale of what is happening in Fort William using the natural and sustainable resources of the surrounding countryside. GFG’s commitment to the Scottish economy, investment in their surrounding communities and recycled metal production sets an incredible example for others to follow.”
Elsewhere in Scotland, GFG’s report outlines growing production from its Liberty Steel Dalzell plant at Motherwell, along with an increase in hydro-power generation at Kinlochleven and a doubling of tidal energy generation at the Meygen project off the Scottish coast.
During the period under review, GFG companies supported 400 school pupils in Lanarkshire to gain high-quality industrial work experience, provided or committed nearly £250K to Scottish charities and community projects and, through GFG’s Scottish cycle manufacturer, Shand, supplied the bike that took Scotswoman Jenny Graham around the world in a record time.
The document, which can be accessed on the GFG Alliance’s website highlights plans and studies in respect of further investment in Scotland including:
Infrabuild Wire, a member of the GFG Alliance, is celebrating 100 years of continuous manufacturing today with senior business and government leaders coming together to mark the occasion.
Executive Chairman of GFG Alliance Sanjeev Gupta said: “Today is an exciting day to acknowledge the proud history of this site.
“Generations of proud Newcastle steelmakers and local community have contributed to the success of this business, passing down their skills from parent to child, from master to apprentice.
“As a member of GFG Alliance for the last two years, it has become apparent to me the passion the team has for producing high quality products that Australians use every day.
“This facility has produced wire to help protect Australia, from producing barbed wire for Allied forces in World War I to the anti-submarine nets lining Sydney Harbour during World War II.
“It has also helped to build Australia. New South Wales’ tallest building, Sydney Tower, is supported by hundreds of metres of roping wire manufactured right here.
“I want to congratulate the InfraBuild wire team for this incredible milestone of reaching 100 years and wish it all the best for the next 100 years,” Mr Gupta said.
InfraBuild Chief Executive Officer Daksesh Patel said: “We are proud to protect the heritage and nourish the ongoing development of steel manufacturing in Newcastle that provides Australian steel for Australian businesses and projects.
“Our steel comes from GFG’s steel mills around Australia and then manufactured to exacting specifications on site.
“InfraBuild wire has over 300 dedicated employees that help us achieve this every day with many of them having been with the company for over 20 years.
“InfraBuild Wire is part of the broader InfraBuild business that includes over 1,200 employees within Newcastle. We also have a further 1,000 contractors from around the Hunter region that help us to deliver for our customers.
About InfraBuild
Proudly celebrating 100 years of continuous manufacturing at the Mayfield site in Newcastle – INFRABUILD WIRE is a fully integrated wire manufacturer producing products from the upstream businesses of the greater INFRABUILD group, from the processing of recycled steel in the Sydney electric arc furnace, to the rolling of Steel Rod on the Mayfield campus to the wire and fencing products used every day across Australia. INFRABUILD WIRE continues to lead in research and innovation, with products that are recognised globally for quality and reliability. INFRABUILD wire can be found in mattresses, cars, fencing, coat hangers and in numerous products. INFRABUILD is the only Australian manufacturer of bright and coated steel wire in Australia.
About GFG Alliance
Liberty Steel is part of the GFG Alliance; a global group of energy, mining, metals, engineering, logistics and financial services businesses, headquartered in London, with additional hubs in Dubai, Hong Kong, New York, Paris, Singapore and Sydney and a presence in around 30 countries worldwide. The Alliance, which has a global workforce of around 35,000 people and a turnover exceeding US$20 billion, comprises integrated industrials and metals businesses under the “Liberty” banner; a resources, energy, transportation and infrastructure group under “SIMEC”; Wyelands; a banking and financial services arm, as well as its property arm, JAHAMA.
A single global company with 18 million tonnes of rolled steel capacity annually is to be launched through a consolidation of GFG Alliance’s steel businesses, with an ambition to lead the industry towards a carbon-neutral future.
The family-owned alliance led by Sanjeev Gupta today announces that Liberty Steel Group, which altogether employs 30,000 people in 10 countries, will be incorporated by the end of this year through a merger of GFG’s upstream and downstream steel manufacturing, mining and distribution businesses around the world.
Liberty Steel Group will be the eighth largest steel producer outside China, with operations stretching from Australia to continental Europe, the United Kingdom and the United States, and it will have annual sales of approximately $15 billion. Although individual businesses will retain a high degree of autonomy, consolidated accounts will be produced and a united strategy will be developed.
At the heart of the group’s mission will be an ambition to build on GFG’s existing GREENSTEEL strategy to aim for net carbon neutral status by 2030 – placing Liberty Steel Group on a pathway to become the first carbon neutral steel company in the world. This will include exploration of the best use of new technologies such as hydrogen generated from renewable power to produce steel.
Read the full media release on the Liberty House Group website
SIMEC, part of Sanjeev Gupta’s GFG Alliance, has accelerated plans for the deployment of its biodiesel generators through the acquisition of Fleetsolve, an award-winning company with 17 years of experience developing, operating and maintaining biofueled combined heat and power (CHP) generation equipment.
In a deal agreed this week, SIMEC is taking full ownership of Wirral-based Fleetsolve and its sister company Fuelsolve. The transaction will bring well-established engineering expertise and market-leading technology into the group.
Fleetsolve won the Merseyside Innovation Prestige Award in 2018, in recognition of its cutting-edge approach to renewable power generation. SIMEC, through Fleetsolve, will launch a nationwide campaign to identify customers who will benefit from carbon-neutral energy coupled with the resilience of having on-site power or combined heat and power generation.
Combining SIMEC’s portfolio of compact containerised generators with Fleetsolve’s expertise, the CHP units range from 250kW to 18MW in capacity and can operate continuously for 24 hours a day customer sites, delivering clean and reliable power for industrial and commercial users.
Read the full media release on the SIMEC website
