Will remodel loss-making plants of Port Talbot: Liberty House

Steel tycoon Sanjeev Gupta, who is in the race to buy Tata Steel's Port Talbot plant in the UK, now confirms that he is in talks to acquire the unit — and only that unit of the ailing UK business of Tata Steel.The talks are still at a preliminary stage, he added.  In an exclusive interview with CNBC-TV18, the Managing Director of metals group Liberty House, further added that his decision to buy Port Talbot doesn't depend on Tatas' existing loss-making plants."We want to remodel the plants, and in order to do that, we need to examine our capital expenditure," Gupta said.He would look to convert the plants into a secondary steel producer from a primary steel producer, he said, referring to the Port Talbot asset.Liberty House is in the process of buying Tata Steel's Clydebridge and Dalzell steel plants.Watch video for more...