ArcelorMittal pulls French bid for EU steel project

A politically charged deal between the French government and ArcelorMittal to preserve jobs at an ailing steelworks looked at risk of unravelling after the global steel giant ditched a bid to run an EU-funded project there.

ArcelorMittal, 40-per cent owned by India’s Mittal family, withdrew an application to use the Florange site in northern France for an EU “green steel” pilot project that Paris had hoped could keep two idled blast furnaces going.

via Business feed http://www.scmp.com/business/companies/article/1099704/arcelormittal-pulls-french-bid-eu-steel-project