ArcelorMittal Temirtau, Kazakhstan-based subsidiary of steel giant ArcelorMittal, intends to invest about KZT 21 billion (approx. $175 million) in 2009 for the expansion of its steel, coal and iron ore facilities.
The investment in question will allow ArcelorMittal Temirtau to renew the equipment at its coal mines and to ensure safe work conditions. The replacement of equipment, for which the company allocated about $100 million during the current year, will be carried out in stages. The investment is in line with ArcelorMittal Temirtau's program to reach an annual output of approximately 17 million mt of mined coal by 2018, and to become self-sufficient in coal production as well.
In November ArcelorMittal Temirtau's shipments of rolled products amounted to 150,000 mt, while in December the company expects to increase its deliveries to more than 180,000 mt.