ArcelorMittal Brasil nears galvanizing capacity expansion approval, CEO says

ArcelorMittal Brasil could slightly delay the galvanizing capacity expansion at its Vega do Sul unit as it awaits final approval from the group’s board of directors, regional chief executive officer Benjamin Baptista told Fastmarkets on Wednesday August 21.

The company is waiting for summer vacations to be over in Europe to present all of the necessary documents to the board, he added. Production is expected to start in late 2021 or early 2022. Baptista talked to Fastmarkets on the sidelines of the annual Brazilian Steel Conference, hosted by national steel association Instituto Aço Brasil in the country's capital, Brasília. ArcelorMittal announced on August 3 2018 that it would invest $330 million to increase cold-rolling capacity by 700,000 tonnes per year and galvanizing capacity by 500,000 tpy at Vega. It will...

Published

Renato Rostás

August 24, 2019

21:00 GMT

São Paulo