Bloomberg News

ArcelorMittal Says Algerian Unit Is Meeting Loan Obligations

January 09, 2012

Jan. 9 (Bloomberg) -- ArcelorMittal said its Algerian unit ArcelorMittal Annaba hasn’t stopped loan repayments or requested any halt.

“Both shareholders in the company, ArcelorMittal Group and the Algerian Government, are continuing to meet their obligations and a solution will be found to the current negotiations,” the steelmaker said in an e-mailed statement today. “ArcelorMittal Group remains committed to investing in and growing its business in Algeria.”

ArcelorMittal said it was responding to “erroneous reports in the Algerian media.”

To contact the reporter on this story: Thomas Biesheuvel in London at

To contact the editor responsible for this story: John Viljoen at

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