AMSTERDAM (Commodity Online): World leading steel producer Arcelor Mittal (AMS:MT) is willing to set up a steel mill at Sulaimaniyah in Kurdistan, Northern Iraq. It has signed a preliminary Memorandum of Understanding (MoU) with Turkey's Dayen Dis Ticaret Ltd. Sti (Istanbul) and will construct the facility in a 50:50 affiliation.
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Iraq has recently inked an oil agreements worth around US$10 billion to US$20 billion with BP plc (LON:BP) and China's state-owned China National Petroleum Corporation for developing the Rumaila oil field.
Notably, the steel major Arcelor Mittal recently got excluded from Goldman Sachs conviction buy list. It is currently trading at 30.37 losing 2.31% at the Amsterdam Stock Exchange.
