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Investing.com -- Poland plans to meet with ArcelorMittal SA representatives to discuss the future of steel operations in the country amid concerns over the struggling industry, Bloomberg reports.
State Assets Minister Wojciech Balczun confirmed Tuesday that discussions will take place soon as the government aims to ensure continued local steel production. ArcelorMittal is Poland’s largest steel producer, accounting for half of the country’s capacity.
"I would certainly want to see as much steel as possible coming from Poland," Balczun reportedly told RDC Radio. "All the new investments we plan, including in defense, offshore and onshore wind and a nuclear power plant mean the needs are gigantic."
The Polish government faces mounting pressure from unions to step in and protect the industry, which is threatened by cheaper imports and high European Union emission costs.
Steel production is crucial to Poland’s plans to strengthen its defense industry and transform its energy sector. Balczun declined to specify whether Poland might consider purchasing ArcelorMittal assets but noted the company’s pattern of European withdrawal.
"One thing is sure, ArcelorMittal has been consistent in executing its strategy of withdrawing from Europe," the minister said.
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