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FINANCIAL NEWS
ArcelorMittal, Sider sign development agreement
06 Oct 2013
(MENAFN) ArcelorMittal, a leading steel producer, inked a deal to sell 51 percent of its shares in El Hajar complex to Algerias steelmaker, Sider, Xinhua reported.
Steel production at the complex will increase by over 100 percent hitting 2.2 million tons per year in five years, going up from one million tons per year.
ArcelorMittal and Sider had recently signed a USD763 million contract to develop steel facilities and mines in the North African country.
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