Alkagesta Enters Metals Trading via Alkanavex Joint Venture with Navex

Malta-headquartered commodity trading group Alkagesta has entered the metals sector through the launch of Alkanavex, a joint venture established in partnership with French steel trading firm Navex SAS. Alkagesta holds a majority interest in the new commercial entity following two years of operational and governance discussions between the two enterprises. The joint venture provides an initial commercial focus on finished steel supply chains while advancing Alkagesta's broader strategy to expand past its core petroleum and fertiliser merchant operations. Legal formalisation and administrative integration between the two trading businesses remain underway.

The newly established entity combines Navex's technical steel procurement background with Alkagesta's institutional financing relationships and multinational logistics footprint. Navex concentrates its sourcing activities predominantly in China, the leading global steel producing nation, and directs shipments primarily toward end users across East and West Africa. Emerging industrial activity and widespread infrastructure development across the African continent continue to drive consistent regional demand for imported structural steel materials. The joint venture aims to expand existing trade corridors while exploring complementary supply relationships across adjacent geographic markets.

Navex is directed by Chief Executive Officer Jean-Pierre Artigala, who brings over five decades of international steel sector management experience to the partnership. His professional background includes executive tenures at European steel producers and merchants such as Descours & Cabaud, Fercometal, and Usinor/Sacilor, which later formed part of ArcelorMittal. Artigala has managed steel manufacturing programmes, raw material procurement, and international export distribution networks spanning Europe, China, Brazil, North America, and the Middle East. Alkagesta leadership noted that this specialised technical expertise will support the commercial expansion of the combined trading platform.

According to Alkagesta management, broadening the firm's physical product slate into industrial metals represents a planned evolution in support of global manufacturing and construction trends. Alkagesta Chief Executive Officer Orkhan Rustamov indicated that the venture will operate under strict governance and established commercial risk frameworks. Executive board member Pierre Gay added that the joint enterprise unites both organisations under a shared operational framework designed to build a competitive international steel desk. The platform intends to leverage established compliance mechanisms while scaling transaction volumes across targeted export destinations.

Founded in 2018 as a privately owned trading house, Alkagesta manages physical trade flows exceeding seven million metric tons of commodities annually. The group maintains 17 international offices and representation points across 42 countries, supported by banking arrangements with 28 global financial institutions. Its physical asset network includes rights to more than 700,000 cubic metres of liquid and bulk storage across Europe and Asia, serving petroleum product, biofuel, and fertiliser logistics. The addition of dedicated steel trading through Alkanavex diversifies the merchant's physical portfolio alongside selective spot activity in petrochemicals and agricultural goods.