ArcelorMittal says not permanently ditching ULCOS plan
PARIS (Reuters) - Steelmaker ArcelorMittal said on Thursday that an EU pilot project central to its deal with the government to save jobs at a site in northwestern France was not viable today for technical reasons, but it was not permanently ditching the scheme.
ArcelorMittal (ISPA.AS) earlier withdrew its application for the ULCOS project, which the government hoped could ensure a future for two idled blast furnaces at the Florange site.
"(This) is perfectly coherent with what is in the agreement signed with the French government," ArcelorMittal said in a statement after the European Commission said it had pulled its bid for ULCOS. "This in no way means the ULCOS project is being abandoned." (Reporting by Catherine Bremer; editing by Daniel Flynn)
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Indians keep faith with Modi, best hope for economy - poll
- Merkel says tightening Ukraine-Russian border is key to peace deal
- RBI says all companies must apply 2-step payments for credit cards
- NATO condemns Russia's action, sees build-up of forces near Ukraine
The Securities and Exchange Board of India (SEBI), India's capital markets regulator, has ordered property developer PACL Ltd to return at least $8.1 billion raised from retail investors after finding the company had failed to register its land investment scheme. Full Article
India to hike iron ore royalty, miners may struggle to pass on extra cost. Full Article