ArcelorMittal to invest $5 billion in Brazil

Nov 29, 2007 | 11:08 AM | Diana Kinch

ArcelorMittal, the world's largest steelmaker, plans to invest $5 billion in Brazil over the next five years, eventually raising annual raw steel capacity in the country by some 4 million to 5 million tonnes from 14.5 million tonnes currently.

"The new investments will include the expansion of upstream and downstream capacities, maintenance, a new blast furnace at the Joao Monlevade long products plant and investments in our stainless steel business here," Lakshmi N. Mittal, ArcelorMittal's president and chief executive officer, told journalists following the formal inauguration of the new No. 3 blast furnace at ArcelorMittal Tubarao, formerly known as Cia. Siderurgica Tubarao.....

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