Abu Dhabi Steel Group Eyes Takeover of Gupta's UK Empire

UAE‑based Arabian Gulf Steel Industries (AGSI) is reportedly a leading bidder to purchase Speciality Steels UK (SSUK), the country’s third‑largest steel producer that plunged into compulsory liquidation in August 2023. SSUK operates the Rotherham and Stocksbridge plants in South Yorkshire and employed roughly 1,500 staff at the time of collapse. AGSI, led by founder and CEO Asam Hussain, claims a “Net Zero steel” vision and plans to produce five million tonnes by 2030 while cutting CO₂ emissions 95 %. The Official Receiver has received offers from a handful of parties, including a possible financing pitch from the UK’s National Wealth Fund. Other bidders such as BlackRock back Sanjeev Gupta, but a repurchase appears unlikely. The sale is part of a wider UK effort to safeguard steel jobs amid US tariffs, global glut and government intervention at British Steel and Tata Steel’s Port Talbot.