EnglishThe international financial crisis and the prospect that the European Union may change certain environmental standards have prompted the Austrian-based Voestalpine to postpone the decision to build a steel mill close to the Black Sea for 2009. The initial plan was to decide on the location of the plant by the end of 2008. "Following the critical status of the financial markets and therefore of the uncertainty about the future development of the world economy, the decision regarding the expansion project, initially planned for December 2008, has been postponed for 2009," Voestalpine said. To make a decision in the near future would not be wise, considering the EU"s plans to change certain environmental standards, which are anyway quite strict as far as industrial sites are concerned. Among others, EU leadership is planning to reach a political agreement on reducing greenhouse gas emissions by 20% between 1990 and 2020. Romania, Bulgaria, Ukraine and Turkey are on the shortlist of countries to host the future Voestalpine project. Commenting upon the postponement, Romanian Prime Minister Calin Popescu Tariceanu said this was one of the effects of the global financial crisis which, in his opinion, is leading to a world economic crisis that will affect all countries in the world.
Voestalpine Postpones Decision On Black Sea Steel Mill
F.A.
English Section / 20 octombrie 2008
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