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Egypt gives Arcelor-Mittal deadline for building plant
Egypt’s Industrial Development Authority has given ArcelorMittal an August deadline to commence building work on a steel plant near the Red Sea. ArcelorMittal was given a license in 2008 to build a $340 mn plant to produce 1.6 mn tonne of steel using DRI technology and another 1.6 mn tonne of billets. However, the project was held back due to financial crisis. The work on the site was to start in 2009.
Contact: ArcelorMittal Group. Website: www.arcelormittal.com
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