Romania could sell its Krivoi Rog shares to ArcelorMittal

Romania could sell the shares it owns within the Krivoi Rog plant in Ukraine to ArcelorMittal Group, Economy Minister Adriean Videanu recently said after meeting the leadership of ArcelorMittal Galati, Mediafax informs. Videanu said that before 1989, Romania invested important sums in the Krivoi Rog plant but that at this moment it finds it difficult to manage the assets it owns in Ukraine. Videanu did not reveal the value of Romania’s Krivoi Rog shares. He pointed out that the investment there assures a part of the mineral ore that ArcelorMittal Galati uses and can help the plant double its production.

Before 1989 Romania invested approximately USD 800 M in the Krivoi Rog plant. In recent years the Romanian authorities announced that they want to sell the shares they own within the Ukraine plant.

In other developments, Electrocentrale Galati will separate from Termoelectrica and could set up along with ArcelorMittal Galati a new 400 MW electrical plant, the economy minister added while in Galati, quoted by Mediafax. “We want to invest alongside ArcelorMittal in producing energy by using blast furnace gas, a gas that currently does nothing but pollute Romania,” Videanu told a press conference. The investment will be done after Electrocentrale Galati separates from Termoelectrica.

The project that Videanu announced does not entail dropping talks with CEZ.

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