SÃO PAULO 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 First.