EBRD support for ArcelorMittal Temirtau is failing to stem pollution and accidents
Publisher: CEE Bankwatch Network
Volume: 4 pages, pdf
Description:
In 2007 the EBRD approved a USD 100 million loan for ArcelorMittal Temirtau (AMT), a metal and mining complex in the Karaganda region of Central Kazakhstan in order to “support further improvements to Mittal Steel Temirtau’s health and safety practices at its coal mines in Karaganda with the aim to bring them in line with international best practice”. Mittal’s plant in Temirtau has received several direct and indirect loans from the EBRD and IFC during the last 12 years. The EBRD’s 2007 loan was approved one year after the completion of a project supported in 1997 with an EBRD and IFC syndicated loan of USD 250 million for Mittal.