Bulgaria's Kremikovtzi receives second €30 million infusion under emergency funding proposal

By Jennifer Lanning Drey

Portland, Ore., June 10 - Kremikovtzi AD received another €30 million in funding from ArcelorMittal in connection with an emergency funding proposal, according to a news release.

The funding will be used to pay employee salaries. Remaining funds will be used to procure raw materials, consumables and spares, according to the news release.

As previously reported, the company received its first €30 million from ArcelorMittal on May 21. That funding was used for the same purposes, according to a previous news release.

Kremikovtzi is Bulgaria's largest steel company.

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