IISI, steel firms increase steel usage in construction

IISI, steel firms increase steel usage in construction

The International Iron and Steel Institute (IISI) and its 11 member companies signed an agreement on a €14 million project designed to increase the use of steel in the construction sector by up to 10% over the next five years. Seven of the IISI members (Arcelor, BlueScope Steel, CELSA, Corus, Mittal Steel, POSCO and Tata Steel) formally signed the agreement in London on Friday, February 11, 2005. The four other companies participating in the project are Erdemir, IMIDRO, Ispat Industries and Ruukki. The new project is an opt-in program for companies active in the construction sector. The project will provide participants a competitive advantage in the construction market by allowing them access to market research, technology benchmarking, knowledge management and an international architectural competition. IISI will continue to seek new project members through 2005.