ArcelorMittal Brazil has resumed its Vega expansion project, SteelOrbis has learned.
According to a company’s US Securities Exchange Commission (SEC) document, the company will resume the $336.9 million (BRL 1.9 billion) project.
The company expects to increase its hot dipped and cold rolled coil capacity, while also building a new 700,000 mt/year continuous annealing line (CAL) and a continuous galvanizing line (CGL) combiline in the Santa Catarina state site to serve the “growing domestic market.”
The project will add a 100,000 mt/year organic coating line to serve the local civil construction and appliance segments and is expected to improve the company’s position in what it labeled as a “fast growing automotive and industry markets through AHSS products.”
ArcelorMittal Brazil expects to finish the project by Q4 2023.