Arcelor Mittal Schedules Brazil Spend

Steel processor ArcelorMittal has announced investment of $1.6bn in long carbon steel operations in Brazil. The spend, which include the construction of three new furnaces and several mills, is in addition to $1.2bn of investment previously announced for expansion of the Monlevade plant in Minas Gerais state. The final location for the new investments will be announced after the conclusion of feasibility studies which are presently underway, the company adds.