ArcelorMittal Tubarão, the local flats subsidiary of ArcelorMittal, plans to invest BRL 750 million ($144.7 million) in 127 new environment-related initiatives, the company said.
ArcelorMittal Tubarão signed a commitment term, known as TAC, with local authorities, in which it commits to develop several environment-related initiatives.
ArcelorMittal Brazil said it has already notified local environment regulator, IEMA, about the new investments.
The company said the new initiatives include a new dedusting system at its coke crushing and steelworks areas, repairs at its No. 2 and No. 3 coke units, and improved equipment with newer technologies.
The TAC or commitment term ArcelorMittal Tubarão signed in 2018 resulted in 310 initiatives. Out these 310 initiatives, the company found out it could further improve 28, which should add BRL 750 million ($144.7 million) in investments.
ArcelorMittal Tubarão said the new investments will bring the company’s total investments as part of its TAC term to BRL 1.8 billion ($347.2 million).
It said it has already completed 66 percent of the projects included in its commitment term.