Global steelmaker ArcelorMittal has announced that its Argentina-based unit ArcelorMittal Acindar will invest $100 million in a new rolling mill in Santa Fe province, Argentina.
The rolling mill with an annual production capacity of 400,000 mt will be built to manufacture steel bars for civil construction. The project is expected to take 18 to 24 months to build, with operations expected to start in two years' time.
The new mill will enhance competitiveness and the company's ability to supply both the domestic market, where there is growing demand for steel products for the construction industry, and export markets. The new rolling mill will also enable ArcelorMittal Acindar to optimize production at its special bar quality (SBQ) rolling mill in Villa Constitución, which in future will only manufacture products for the automotive and mining industries.
ArcelorMittal Acindar has five production sites with a combined annual production capacity of 1.7 million mt and employs more than 2,700 people.