Brazilian steelmaker ArcelorMittal Tubarão plans to invest $60 million in 2018 to increase productivity and reach an annual output of 7.7 million mt in the next three or four years, a company executive told Brazilian media during a press conference.
The company operated at full capacity this year. It produced a combined 7.2 million mt of slab and HRC this year, according to CEO Benjamin Baptista Filho.
The executive said the company plans to build a second hot strip mill and include a cold and galvanized finished strip line at its Vitoria mill, located in the city of same name in the state of Espírito Santo, by 2030. Currently, the company’s ArcelorMittal Vegas unit, in the state of Santa Catarina, handles those processes.