Czechs win arbitration with Indian steel giant ArcelorMittal
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Prague - The Czech Republic has an international arbitration with the giant Indian steel on compensation for ArcelorMittal a minority of the group’s share in the steelworks Czech, Czech Republic Miroslav Kalousek finance minister said Wednesday. ArcelorMittal requested 5.79 billion koruny (355.37 million dollars) as compensation for around 14 per cent share of its steel plant in the north-west of the city of Ostrava, the acquisition of metallurgical group of the Czech state in 2003. The court in Paris, that counsel for the Czech state cost of 500000 euros will be reimbursed, “said the minister. “The Czech Republic will not pay a single crown,” said Kalousek reporters in a press conference on television messages CT24-channel. The Czech Republic committed to the actions that are now being disputed by the management of the Ministry of Finance, as part of the privatization of Mittal. The transmission, however, is blocked by the government of a dispute with a contractor Czech, where the government had promised a share of the steel plant in the 1990’s, but then backed out of the deal. According to an earlier decision of the company may now part of the State, which it may not, on the Indian steel producer. ArcelorMittal unit of the Czech Republic is the country’s largest steel producer, which had 3.06 million tons of steel in 2006. The company has 7,450 employees. |