It is reported that ArcelorMittal’s Kazakh unit Temirtau has agreed to form a joint venture with the national railway to produce rails and long products.

State owned Kazakhstan Temir Zholy will invest 50% and the venture will be based at ArcelorMittal Temirtau’s facilities.

The amount of investment wasn’t disclosed.

The venture is planned to start working by the end of 2013, with annual production capacity of 400,000 metric tons, divided equally between rails and long products.

The venture will target exports.

(Sourced from Bloomberg)