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Italy's government restarts talks with ArcelorMittal over ailing Ilva steel plant

ArcelorMittal has agreed to immediately restart talks with the Italian government over the future of steelmaker Ilva, Prime Minister Giuseppe Conte said after a four hour-long meeting with the company’s leaders. Rome and ArcelorMittal are on the brink of a harsh legal battle as the latter tries to walk away from a 2018 deal to buy the troubled Ilva plant in the southern city of Taranto. The Indian steelmaker has blamed the Italian government’s move to scrap previous guarantees of legal immunity for a massive clean-up operation at Ilva’s heavily polluted site. …read more […]

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UPDATE 1-Egypt signs $430-million gas deal with Texas' Noble Energy

Egypt said on Saturday it had signed several multimillion-dollar energy investment accords including a $430-million deal for Texas-based Noble Energy to pump natural gas through the East Mediterranean Gas Company’s pipeline. Under another agreement with Noble, which will also be financed by the U.S. International Development Finance Corporation, the energy company will manufacture petroleum products in partnership with Egyptian company Dolphinus Holdings. Amsterdam-based Lekela also announced the start of construction work on its West Bakr wind power plant, which will have a capacity of 250 megawatts and require a total investment of $350 million. …read more […]