ArcelorMittal Kazakh unit to invest $500 mn in 2011

Feb 08. The Economic Times

ArcelorMittal Kazakh unit to invest $500 mn in 2011ArcelorMittal, the world’s largest steelmaker, plans to invest more than $500 million in Kazakhstan this year as part of its plan to almost double steel production in the Central Asian country by 2015.

ArcelorMittal Temirtau, the company’s Kazakhstan unit, said it planned to increase crude steel production by 20 per cent to 4.0 million tonnes this year, while output of finished products would increase by 15 per cent to 3.5 million tonnes.

ArcelorMittal Temirtau has annual capacity to produce 6 million tonnes of crude steel. It plans to run the plant at full capacity by 2015 after a modernisation programme, it said.