British-Indian entrepreneur Sandžív Gupta, owner of the steel giant Liberty Ostrava, unexpectedly visited the Czech Republic. Together with representatives from Liberty, he endeavored to negotiate the resumption of energy supplies from Tameh Czech.
Tameh, which went bankrupt due to unpaid invoices from Liberty, insists that the steelworks must first begin repaying its $90 million debt. "I can confirm that I met with Mr. Gupta and representatives from Liberty at Liberty's request. The meeting focused on the conditions under which Tameh's production could be resumed," said Dominik Hart, Tameh's insolvency administrator.
According to SZ Byznys, Tameh agrees to resume energy supplies on the condition that Liberty first pays off a significant portion of its over $90 million debt, covers the costs of starting and maintaining operations, and compensates for emissions permits. "The funds to settle its debts were loaned to Liberty Ostrava by its sister companies abroad, and it should therefore request them back," said Tameh's media representative, Patrik Schober.
Liberty's unions have expressed concerns about the situation. "We therefore approached the management of Liberty Ostrava and Tameh Czech to meet at the same table," said union leader Petr Slanina. Deputy Prime Minister Marian Jurečka criticized Gupta for refusing to negotiate with the Czech government.
Gupta, who resides in Dubai, has not been publicly visible recently. His conglomerate, GFG Alliance, has been facing problems since 2021 due to the crisis of Greensill Capital, a company Gupta was a client of.