Dec 4 2007
ArcelorMittal, the world's largest steelmaker, has announced that it has decided to double the capacity of its integrated long products Monlevade plant located in Brazil's Minas Gerais State.
Monlevade produces wire rod. It currently runs one blast furnace, which was commissioned in 2000. The doubling of the plant's capacity will occur through the construction of another blast furnace, which will add over one million tons.
Speaking on November 29 in Vitoria, Brazil, at the inauguration of the expansion to 7.5 million tons of ArcelorMittal Tubarão, the Group's main flat carbon steel plant in Brazil, Mr. Lakshmi Mittal, president and CEO of ArcelorMittal, said: "I am happy to be able to announce that over the next five years we will be investing approximately US$5billion in our Brazilian operations, including maintenance. This includes such projects as the expansion of the hot strip mill in Tubarão to four million tons per year and constructing a new hot dip galvanising line in Vega do Sul. With its close proximity to raw materials, good quality iron ore, highly skilled workforce and attractive growth prospects, Brazil is a great place to make steel".
Regarding Monlevade, Mr. Mittal added: "The decision to construct a new blast furnace in Monlevade is part of the Group's recently announced growth plan, which aims at increasing shipments by 20% by 2012 through organic growth alone. It was recently taken by the Group's Board of Directors, and Group Management Board is now set to implement it. Work on the ground will begin shortly".