ArcelorMittal Brazil, the local subsidiary of steelmaking group ArcelorMittal, said on Wednesday it will invest $3.5 million (BRL 19 million) to resume steel output at its Barra Mansa mill by H2 this year.
The mill is located in the city of same name in the state of Rio de Janeiro. The company said the investments will cover repair and maintenance works needed to resume steel production.
The mill halted activities in 2019 due to a weak domestic demand at the time. The company expects the mill’s restart to generate 100 direct and 50 indirect job positions.
The company said the mill’s restart is aimed at meeting Brazil’s growing domestic demand for steel, as activity in the local steel industry rebounds.