ArcelorMittal, the world's largest integrated metals and mining company, has announced the signing of an industrial partnership agreement worth €70 million with the world's nuclear industry leader, France-based AREVA, aimed at increasing production of steel products for the nuclear industry at ArcelorMittal Group's steelmaking subsidiary Industeel.
Accordingly, the investment, which will be staggered between 2008 and 2010, will allow Industeel to increase its ingot production capacity from 35,000 mt to 50,000 mt per year.
In addition, ArcelorMittal and AREVA will implement a joint three-year metallurgy research and development program which will be conducted at the Creusot Materials Research Center (CRMC).
The partnership is part of ArcelorMittal's multi-year steel plant development programs, which represent a total investment of one billion euro. Moreover, this agreement will secure the supply of forged nuclear parts for AREVA, via its subsidiary Creusot Forge, and will allow it to continue to develop the French nuclear industry.