ArcelorMittal has decided to resume the expansion of its Vega do Sul flat-steel rolling facility, in Brazil's southern state of Santa Catarina, to increase production of coated steel and cold-rolled steel goods and supply the growing automotive market.
The company said it will invest $330 million to build a 700,000-tonne per year continuous annealing line and a continuous galvanizing line combiline facility, expected to be finished by 2021. The expansion is aimed at supplying the Brazilian automotive market, the company said, and it will also allow ArcelorMittal to improve sales to the local construction and white goods sectors. "Since 2017, when the Brazilian economy gave signs of recovery, we started evaluating the project's resumption," ArcelorMittal Brasil's chief executive officer...