ArcelorMittal Site in Algeria Headed Toward Nationalization

The North Africa Journal | Steel giant ArcelorMittal may be given a lifeline and a gift of sort by the Algerian government. The company is reported to be wanting the Algerian government to acquire an additional 21% stake in its Annaba unit, northeast Algeria for $200 million.

While such transaction would make Algeria a majority shareholder since Algeria already owns 30%, the Algerian authorities are said to be wanting to add another $200 million to make fresh investments to double the site’s capacity to two million tons per year.

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