ArcelorMittal Galati, to be granted no contractual facilities

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President of the State Assets Realization Authority (AVAS) Mircea Ursache stated on Wednesday, in Galati (north-east of Bucharest), that ArcelorMittal Galati will be granted no facility, when the privatization contract is modified.

„Inauguration of the dust removal installation at the Steel shop 1 represents in my view, as a non-specialized person in this field, just the fulfillment of a condition contained by the post-privatization contract and although this crisis is objective and even a major force situation we will grant no facilities to ArcelorMittal as for the modification of the privatization contract”, said Ursache.

AVAS head stressed that, according to the privatization contract, the volume of investments for environment protection must be achieved in their absolute value and destination of the money for each investment objective cannot be modified.

Ursache concretely referred to the announcement made by ArcelorMittal administration on the shutting down of the coke and chemical products plant, which can lead to the conclusion of an additional document to the privatization contract on the reconstruction of a new plant to replace the old one.

„The investment objective for this plant remains the same in value and destination, one cannot move the money from one side to another, but an additional document which allows either the closing down, or the opening of another unit, in a time interval, is possible”, said Ursache.

The official said that, next week, an AVAS Commission from the monitoring department for post-privatization and from the restructuring department will go to ArcelorMittal Galati to make a report and AVAS management „will start the procedures for the conclusion of the additional document”.

Ursache denied all suppositions related to the eventuality that the state might take over ArcelorMittal Galai management during the period of crisis.

AVAS head also said that the declassification of Sidex Galati privatization contract cannot be carried out other than with both sides’ accord – AVAS and Mittal – as stipulated by Article 20 and that, „for the time being, discussions are held with the partner to this end”.

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