Arabian Gulf Steel Industries (AGSI), a steel group based in Abu Dhabi, is considering a potential takeover of UK steel assets previously controlled by Sanjeev Gupta. The interest focuses on Speciality Steels UK, a company that was placed into compulsory liquidation last year following prolonged financial difficulties.

Speciality Steels UK operates production sites in South Yorkshire and previously employed around 1,500 workers. The UK’s insolvency authorities are currently seeking buyers for the business, while the Abu Dhabi group is reported to be assessing options to restart operations amid ongoing challenges facing the British steel industry.

The UK government has stated that the sale process is ongoing and that efforts remain focused on safeguarding jobs and preserving domestic steel-making capacity.