The Brazilian arm of ArcelorMittal announced investments of BRL3.8 billion to BRL4.0 billion ($661 million to $696 million) in its Tubarão plant, located in the Brazilian southeastern state of Espírito Santo.
This amount will add to the BRL 25 billion ($4.35 billion) already established for investments of ArcelorMittal in Brazil.
Tubarão produces slabs and HRC and will now have its production line increased by cold rolling and continuous coating lines, offering higher valued products to serve the automotive, domestic appliances, and civil construction sectors.
The viability studies were already concluded by the company and the project is now in the internal approval process.
The works are expected to start during the first half of 2026, with production starting during the first half of 2029.
USD=BRL5.75 (February 7)
