ravaged Iraq has sought help in reopening an iron and
steel plant in the port city of Basra from Anglo-Dutch
steel giant Corus Plc, which has pitted Tata Steel and
Brazil''s CSN against each other in an acquisition battle.
industry minister Fawzi Hariri, who is in London as part
of a trade delegation seeking assistance from overseas
partners for restarting various state-owned business.
to UK''s The Guardian, Hariri met Corus officials
and sought the company''s help. Hariri is quoted by the
paper as describing initial talks with Corus for reopening
the plant at an estimated cost of £75 million as
Guardian quoted Hariri, "They were trying to
find out what we need. We also listened to what they offered.
We are looking at another meeting later on this week to
discuss further details."
is reported to have responded cautiously, saying it routinely
met trade delegations visiting the UK, The Guardian
describing the facility in Iraq''s second-largest city,
Hariri said, "All the major steel structures, and
the mills and ovens, are intact. The system controls were
damaged or looted, which we will need to (be) rebuilt."
Basra plant was built in the 1970s and would be able to
around 400,000 tonnes of steel a year. A new plant, currently
under consideration, is expected to increase capacity
to one million tonnes.
is currently awaiting a counter bid from Tata Steel to
CSN''s last takeover offer of 515 pence.