Sanjeev Gupta investigated in new book on steel industry collapse

Paul Barry’s book, ‘The Big Steal’, investigates the rise and fall of steel tycoon Sanjeev Gupta. The book chronicles the collapse of Gupta’s ambitions to revitalize the aging steel industry through hydrogen-powered blast furnaces.

Gupta gained prominence in 2017 when he purchased Arrium and OneSteel, appearing to rescue the South Australian steel mills in Whyalla from insolvency. However, the book describes his vision of a green metallurgical renaissance as an economic and engineering fantasy that resulted in significant financial, industrial, and personal disasters for creditors and stakeholders.