SOURCE: Industrial Info Resources

Industrial Info Resources

March 19, 2010 05:15 ET

ArcelorMittal to Build Steel Mill in Iraq, an Industrial Info News Alert

BANGALORE, INDIA--(Marketwire - March 19, 2010) -  Researched by Industrial Info Resources (Sugar Land, Texas) -- ArcelorMittal (NYSE:MT) (Luxembourg), the world's largest steel producer, has announced plans to set up a steel mill at Sulaimaniyah in Kurdistan, northern Iraq. The steel major will build the facility in a 50:50 partnership with Turkey's Dayen Dis Ticaret Limited Sti (Istanbul). The two companies have signed a preliminary memorandum of understanding. Iraq is also focusing on rebuilding the hydrocarbon industry as part of its reconstruction program. The country recently signed a few multi-billion dollar oil agreements, including the $10 billion to $20 billion deal with BP plc (NYSE:BP) (London, England) and China's state-owned China National Petroleum Corporation (Beijing) to develop the Rumaila oil field.

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