Alkagesta Enters Metals Sector via Alkanavex Joint Venture with Navex SAS

Global commodity trading house Alkagesta has launched Alkanavex, a Malta-based joint venture with French steel trading firm Navex SAS, marking its official expansion into metals trading. According to a corporate announcement reported by Malta Today, Alkagesta holds a majority stake in the newly formed entity. The agreement follows two years of operational and commercial alignment between the two companies, with legal formalisation and operational integration currently underway as the venture targets growth in global steel markets.

The creation of Alkanavex allows Alkagesta to diversify beyond its core portfolio of petroleum products, fertilisers, and biofuels into industrial materials trading. Navex SAS contributes an established commercial network, sourcing steel primarily from China and distributing products to infrastructure and industrial customers in West and East Africa. The new entity intends to build an integrated metals trading platform supported by Alkagesta's governance and risk management frameworks.

Commenting on the partnership, Alkagesta Board Member Pierre Gay stated that the joint venture represents a shared vision to establish a high-performing and globally competitive steel trading operations. Navex Chief Executive Officer Jean-Pierre Artigala noted that the agreement provides Navex with access to Alkagesta's financial strength and international footprint while expanding supply corridors into Africa. Alkagesta Chief Executive Officer Orkhan Rustamov highlighted steel and metals as a logical commercial progression for the firm when combined with prudent risk management.

Established in Malta in 2018, Alkagesta handles more than 7 million metric tons of annual commodity flows across 42 countries, according to corporate details reported by Malta Today. The privately held enterprise operates 17 international offices, maintains credit relationships with 28 banks, and utilizes over 700,000 cubic meters of bulk liquid and dry storage capacity across Europe and Asia, employing more than 150 professionals.