It is reported that ArcelorMittal Hunedoara, Romania based subsidiary of the world's largest integrated metals and mining company ArcelorMittal, will invest about EUR 43 million for the construction of a new rolling mill, which is part of its EUR 69 million investment program for the 2004-2011 period.
With this investment, ArcelorMittal Hunedoara aims to almost double its annual production capacity to 700,000 million tonnes of steel per year.
Mr Andre Bock VP and CTO of ArcelorMittal Long Carbon Europe said that "Despite the difficult economic climate, ArcelorMittal has decided to continue its investments in its Hunedoara plant, in order to ensure its long-term sustainability. The aim of this investment program is both to provide necessary semi finished products for our pipe producing facilities in Romania and to increase the competitiveness of our products at the international level."
ArcelorMittal Hunedoara registered its highest steel output level of 383,000 tonnes in 2007, while in 2008 the figure decreased to 206,000 tonnes as a result of the reduced output of rebar and concentration on production of billets for pipes.
(Sourced from www.steelorbis.com)
