It is reported that ArcelorMittal Hunedoara, Romania-based subsidiary of the world's largest integrated metals and mining company ArcelorMittal, will invest about €43 million for the construction of a new rolling mill, which is part of its €69 million investment program for the 2004-2011 period.
With this investment, ArcelorMittal Hunedoara aims to almost double its annual production capacity to 700,000 mt of steel per year.
"Despite the difficult economic climate, ArcelorMittal has decided to continue its investments in its Hunedoara plant, in order to ensure its long-term sustainability. The aim of this investment program is both to provide necessary semi-finished products for our pipe producing facilities in Romania and to increase the competitiveness of our products at the international level," stated André Bock, vice president and CTO of ArcelorMittal Long Carbon Europe.
ArcelorMittal Hunedoara registered its highest steel output level of 383,000 mt in 2007, while in 2008 the figure decreased to 206,000 mt as a result of the reduced output of rebar and concentration on production of billets for pipes.
As SteelOrbis previously reported, last month ArcelorMittal decided to invest about €53 million in ArcelorMittal Galati for the modernization of its blast furnace No.5, which will allow this subsidiary to double its annual pig iron production to over 4.2 million mt.