The world's largest steelmaker ArcelorMittal has announced that it will expand its joint venture partnership with Japanese steelmaker Nippon Steel Corporation for the construction of a new continuous galvanizing line (CGL) at I/N Kote in New Carlisle, Indiana, US.
The new galvanizing line will have an annual capacity of 480,000 metric tons. With this new CGL, the two companies will be able to produce high grade, high quality coated sheets. The new galvanizing line will also double I/N Kote's production capacity.
ArcelorMittal and Nippon Steel will invest $240 million in the new continuous galvanizing line.
Groundbreaking for the new CGL is expected to take place this year and construction will reach completion in late 2010.
The 50-50 joint venture partnership between the two companies was established in 1991.