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Government reaches settlement with ArcelorMittal to avoid paying $600m in compensation

The Egyptian government, represented in the chairperson of the Industrial Development Authority (IDA) Ahmed Abdel Razek, has a settlement contract in London signed with the largest steel producer in the world, ArcelorMittal, in the presence of Investment Minister Dalia Khorshid and company chairperson Lakshmi Mittal. “The friendly settlement stipulates that the arbitration lawsuit [has been …

Daily News Egypt

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