Speaking about the results in the first quarter of the current year, Jorge Oliveira, vice president of the Brazilian arm of ArcelorMittal, mentioned that the expansion plan of the company is maintained, with investments of BRL 25 billion ($4.87 billion).
The Monlevade plant, in the southeastern state of Minas Gerais, is having its crude steel production capacity increased from 1.2 million mt to 2.2 million mt per year, at a cost of $2.5 billion.
The nearby Andrade mine is having its iron ore production capacity increasing from 1.5 million mt to 3.5 million mt per year.
The Serra Azul mine, also located in the Minas Gerais state, is receiving BRL 2.0 billion ($389.86 million) for the set-up of a new pellet feed production plant, increasing the capacity from 1.6 million mt to 4.5 million mt per year.
Also in the state of Minas Gerais, the company is investing BRL 144 million ($28.07 million) to increase the production of drawn steel products by 35 percent, that will enable the production of high value added products destined for the auto industry.
In the southern state of Santa Catarina, the Vega do Sul plant is receiving BRL 1.9 billion ($370.37 million) for the set-up of a new line to produce CRC and coated products, increasing Vega’s capacity from 1.6 million mt to 2.2 million mt per year.
In the southeastern state of Rio de Janeiro, the Barra Mansa plant is receiving BRL 1.3 billion ($253,41 million) to increase its production capacity by 500,000 mt per year.
$1= BRL 5.13 (May 2)
