ArcelorMittal expands production capacity with major investments in Brazil

According to Oliveira, the investment in the expansion plans will amount to 25 billion Brazilian reais, or $4.87 billion.

The Monlevade plant in Minas Gerais state plans to increase its crude steel production capacity from 1.2 million tons to 2.2 million tons per year, which would require an investment of $2.5 billion.

The Andrade mine plans to increase iron ore production from 1.5 million tons to 3.5 million tons per year.

As part of the investment plan, the Serra Azul mine in Minas Gerais will receive $389.86 million to build a new pellet plant that will increase its production capacity from 1.6 million to 4.5 million tons per year.

Also, in the same state of Minas Gerais, ArcelorMittal plans to invest $28.07 million to increase its production of drawn steel products by 35% to produce high value-added products for the automotive industry.

In the southern state of Santa Catarina, the Vega do Sul plant will receive $370.37 million to build a new line for the production of cold rolled and coated products, which will increase production capacity from 1.6 million to 2.2 million tons per year.

The Barra Mansa plant in Rio de Janeiro state will receive $253.41 million to increase its production capacity by 500,000 tons per year.