FBiH Government: Enable ArcelorMittal to Continue Investing in Production

Today's meeting between the Prime Minister of the Federation of BiH Nermin Nikšić, federal ministers Ante Krajina and Erdal Thulj, and the Director of the Tax Administration of FBiH Midhat Arifović with representatives of ArcelorMittal resulted in an agreement on a possible model for resolving the issues this Zenica-based company has with the registration of part of the property purchased from Željezara Zenica, announced the FBiH Government, as reported by the Bosnian news agency Patria.

Namely, the Tax Administration of FBiH, due to large debts, placed a mortgage on the property of Željezara Zenica before part of the land covered by the purchase agreement was registered in the land registry as the property of Zenica's ArcelorMittal. As was established today, the Tax Administration's decision to impose the mortgage is entirely legal, which was also confirmed by the Federal Ministry of Finance.

The Tax Administration of FBiH will prepare and submit to the Federal Government a comprehensive report on the debts of Željezara Zenica, as well as an assessment of the value of this company's property. The Government, for its part, would adopt a conclusion to remove the mortgage from the part of the property that is now owned by ArcelorMittal. This would enable ArcelorMittal to continue investing in production capacities.

According to Prime Minister Nikšić, the registration of the land for ArcelorMittal is not merely a legal-formal issue, as it also encompasses an economic and social component important for Zenica and the Federation of BiH, as well as for the employees of this company.

Today's meeting at the seat of the Federal Government in Sarajevo was also attended by the Mayor of Zenica Municipality Husejin Smajlović, and the Prime Minister and federal ministers thanked ArcelorMittal for its announcement that it will donate 500,000 convertible marks to Zenica as aid in mitigating the consequences of floods and landslides, Patria reports.