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Steel plant shutdown


AFP

Bulgaria’s biggest steelmaker Kremikovtzi is seen in a photograph taken yesterday near Sofia. The plant’s majority shareholder, the Indian company Global Steel Holding owned by Pramod Mittal, the younger brother of ArcelorMittal’s steel tycoon Laksmi Mittal, has stopped providing money and raw materials for Kremikovtzi after several failed attempts to sell it. Kremikovtzi’s management was also forced to begin shutting down its blast furnaces and coal batteries last week due to the complete lack of material.

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