Mittal Steel South
Africa has bought two ruined steel mills in
Mozambique with a view to expanding its presence on the continent. The $11.45-million (around Rand 89.4 million) purchase is the first Mittal Steel SA has made outside of South
Africa. Mittal Steel SA has acquired the plant and equipment of the Companhia Siderugica De
Mozambique (CSM) and the Companhia
Mozambique De Trefiloria (Trefil) from the Mozambican government. CSM was a rod mill and Trefil a
wire drawing facility. Mittal is planning to increase the
production of these mothballed facilities within two years to 72,000 tons and 32,000 tons per annum, respectively.