ArcelorMittal Brazil invests BRL 4.3 billion to expand long product capacity
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Update time : 2021-11-15 21:07:29
ArcelorMittal Brazil said last Thursday that it will invest BRL 4.3 billion in its long products business by 2024, which was aimed to expand the capacity for long products plant in João Monlevade and the Serra Azul iron ore mine in Itatiaiucu.
ArcelorMittal said that the reason for expanding the factories is that the company has full confidence in the medium and long-term prospects of the domestic market.
The company said that by 2024, the production capacity of its João Monlevade plant will increase from 1.2 million tons/year to 2.2 million tons/year. At the same time, the company will also invest in its Andrade iron ore mine, which supplies iron ore to the João Monlevade plant, expanding the capacity from 1.5 million/year to 3.5 million/year.
In addition, the company's Serra Azul iron ore production capacity will be increased from 1.6 million tons/year to 4.5 million tons/year, and its life cycle will be extended to 2056.
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