ArcelorMittal Hunedoara, the Romania-based subsidiary of the world's leading steel company ArcelorMittal, is set to invest about €43 million for the construction of a new rolling mill.
The investment will allow the firm to double its annual production capacity in Romania to 700,000 metric tonnes of steel per year, SteelOrbis reported.
André Bock, vice president of ArcelorMittal Long Carbon Europe, said that the new plant would help to provide necessary semi-finished products for the firm's pipe producing facilities in Romania while also increasing the competitiveness of its products at the international level.
"Despite the difficult economic climate, ArcelorMittal has decided to continue its investments in its Hunedoara plant, in order to ensure its long-term sustainability," he said.
According to SteelOrbis, ArcelorMittal Hunedoara registered its highest steel output level of 383,000 metric tonnes in 2007 – a figure which dropped to 206,000 metric tonnes in 2008.
ArcelorMittal has steel operations in more than 60 countries and is a global leader in the automotive, construction, household appliances and packaging sectors.
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