Curierul National reported that Romanian Authority for State Assets Recovery will support the measures to cut costs and to streamline the activity of ArcelorMittal Galaţi plant, which announced it would shut down the Coke Chemical Plant, if the ArcelorMittal commits to invest in a new unit.

A release said that "These days, an AVAS experts' commission went to Galaţi for a field analysis of the degree of fulfillment of post privatization obligations assumed by ArcelorMittal by the contract of sale purchase concluded for the privatization of the Sidex Galaţi plant. Depending on the conclusions of this commission, AVAS will examine the possibility of concluding an additional act to the contract, but only with observance of the following conditions: the initially assumed volume of investment to remain unchanged and the destination of the investment to remain unchanged.”

AVAS states that all the clauses laid down in the privatization contract of the Sidex Galaţi plant are in force at this time.

The institution also said that "If the buyer commits to invest in a new coke chemical plant of a higher technological level, AVAS will support any process to reduce costs and to streamline the activity of the plant.”

ArcelorMittal Galaţi management announced in April that it intended to shut down the three coke batteries, on technical and economic reasons and to import coke from another plant of the group, from Poland.

(Sourced from curierulnational.ro)