ArcelorMittal Brazil resumes $336.9 million Vega project

Monday, 29 March 2021 21:07:11 (GMT+3)   |   Sao Paulo
       

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.


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