KIEV, Oct. 6 - ArcelorMittal, the world's largest steelmaker, said the Ukrainian government could seize control of its $4.8 billion steel plant there after charging it with violating terms of a 2005 purchase agreement, The Wall Street Journal reported.

The dispute, which will be taken up during a Kiev court hearing Tuesday, centers on whether ArcelorMittal was granted valid permission in April 2009 to delay a $200 million investment in the massive plant, which is one of the company's largest facilities.

ArcelorMittal claims it reached an agreement with the State Property Fund, Ukraine’s privatization agency, to postpone investment commitments through early next year after the steelmaker declared force majeure in 2009 due to the global economic slowdown.

ArcelorMittal says the Ukrainian government has challenged the validity of the State Property Fund agreement.

The Ukrainian government has consistently stressed its commitment to attracting foreign investment and carrying out needed business reforms to improve its business climate.