The world's largest steelmaker ArcelorMital's Brazil-based subsidiary ArcelorMittal Tubarão said it expects gains of $34 million with the sales of excess energy in 2010 to Belgium-based global energy company GDF SUEZ's subsidiary Tractebel and also via sales of surplus energy on the spot market. This amount represents a growth of 62 percent on 2009, a company press release said.
Self-sufficient in the production of energy since 1998, the steel producer has concluded a contract worth $167.5 million with Tractebel for sales of excess energy up to 2011. Pointing out that the process in question is environment friendly, ArcelorMittal Tubarão said that the energy produced is generated by gas recovery from its production process, which, in consequence, is not released into the atmosphere.