ArcelorMittal Temirtau, Kazakhstan-based subsidiary of the world's largest steel producer ArcelorMittal, will restart the construction project of its new four million capacity steel mill in Temirtau in the Karaganda region of Kazakhstan in 2011, the plant's technical director Vadim Basin has said.
"We have agreed with the national investment committee a two-year extension of the terms for the implementation of the project, i.e., first construction works will begin no earlier than 2011. The company's management had postponed construction of the new steel mill due to lack of the company's own raw materials and the instability of the international steel market," Mr. Basin stated.
The project for the construction of a new four million mt capacity steel mill in Temirtau was started in October 2008, within the framework of ArcelorMittal's program for the expansion of its annual steel production capacity in Kazakhstan to ten million mt by 2013, which was expected to cost about $7 billion.