It is learned that ArcelorMittal will resume its project to expand its long steel production in Brazil; the investment will cost around US$352 million.
According to the company’s president in America, Jefferson De Paula, this expansion is to continue the unfinished project back to 2008 when the company projected total investment of US$1.5 billion for long steel product in Brazil. Now they decide to carry forward the remaining part of the project.
The company will install a wire rod mill with capacity of 1.1 million tons per year and will increase the production of two crude steel mills by 400,000 tons totally.
The whole expansion would take 18 months to complete and start the production by end of 2014.
It will increase the total capacity of the company’s long steel product in Brazil from 3.8 million tons per year to 4.9 million tons
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64812&division=A9
