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Gupta Pledges Multi-Million-Euro Investment in Romanian Steel Works
11/12/2018 - Sanjeev Gupta’s Liberty House Group is promising to invest EUR300 (US$337 million) in a Romanian steel works it is acquiring from ArcelorMittal, according to a Romanian publication.
The Romania Journal reported that the investment in the Galati steel works might include the restart of a blast furnace and, potentially, installation of an electric arc furnace.
Liberty is acquiring the mill and other European assets from ArcelorMittal, which is divesting them to satisfy an agreement with European competition regulators who raised concerns over its purchase of Italy's ILVA.
The Romania Journal has more here.
