Several hundred Bulgarian steelworkers staged a protest demonstration Wednesday at their plant outside Sofia, accusing Indian employer Pramod Mittal of not keeping his promises on new investments, according to dpa. The workers, gathered outside the administrative building of the Kremikowzi, demanded that Mittal's company Global Steel should give up its 71 per cent stake in the company. Global Steel had "not kept its investment plans" promises, the union representative said. "Global Steel is not wanted as an investor." The workers also demanded a 25 per cent wage increase for 2008 and better working conditions. Global Steel bought into the Kremkowzi steelworks in 2005, with the Bulgarian government keeping a blocking minority stake of 25.29 per cent. A further 3.71 per cent of the company was floated on the Sofia stock exchange. The Bulgarian Economics Ministry said the plant produced 1.485 million tons of steel in 2007. But according to reports, the plant, which dates back to the country's communist era, is having problems adhering to European Union environmental norms since Bulgaria's entry in the EU at the outset of 2007.
