Bulgarian Economy Minister Petar Dimitrov has announced the Bulgarian government's invitation to ArcelorMittal to become the operator of the Kremikovtzi steel mill, the country's largest steelmaker.
Concerning the invitation, Dimitrov said, "We are making an offer to ArcelorMittal to re-engage in the operational management of the plant."
The invitation follows Konstantin Zhevago-owned Vorskla Steel Bulgaria's announcement of the suspension of its tolling agreement with Kremikovtzi citing a number of obstacles from the parties involved, such as apparent unwillingness to achieve mutual understanding on the part of some of the trade union leaders, problems in recovering value added tax from the state, constant thefts of production and also sabotage.
In July, Kremikovtzi annulled a production deal with ArcelorMittal and inked a deal with Zhevago instead for the provision of raw materials.
As previously reported by SteelOrbis, Kremikovtzi Sofia District Court declared the insolvency of Kremikovtzi in August this year, after the mill had amassed over $1 billion in debts.