Industria Argentina de Aceros SA (Acindar),
ArcelorMittal SAs Argentina-based unit, will invest $100
million in a new rolling mill in the countrys Santa Fe
province, the steelmaker said Oct. 22.
The rolling mill will
manufacture steel bars for civil construction, with a capacity
of 400,000 tonnes per year, and take 18 to 24 months to
complete, with operations expected to start in two years.
"The new mill will
enhance competitiveness and the companys ability to
supply both the domestic market, where there is growing demand
for steel products in the construction industry, and export
markets," the Luxembourg-based company said.
The new plant will
enable Acindar to optimize production at its special bar
quality rolling mill in Villa Constitución, which will
eventually only manufacture products for the automotive and
mining industries, ArcelorMittal said.
Acindar is the largest
long products steel producer in Argentina, with an annual
production capacity of 1.7 million tonnes.
A version of this
article was first published in AMM sister publication Steel