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ArcelorMittal Plans to Invest Approximately R$ 1.3 Billion in Its Factory in RJ. The Investment Will Focus on Production Expansion and Create Over 1,000 New Jobs
Just months after announcing investments of R$ 4.3 billion in Brazil, ArcelorMittal has just communicated a new billion-dollar investment, this time in its Barra Mansa (RJ) unit. The company announced on Thursday (10) that it will invest R$ 1.3 billion over the next three years, focusing on expanding the production of rolling and steelmaking, generating various job opportunities. The amount will allow the RJ plant to be modernized and the product portfolio to be expanded, along with solutions aimed at industrial markets such as the automotive, energy, and construction sectors.
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ArcelorMittal’s Rolling Capacity Could Be Expanded by 500,000 Tons/Year
According to Jefferson de Paula, CEO of ArcelorMittal Long Steel LATAM and Mining Brazil, the announcement of investments in RJ demonstrates the company’s confidence in Brazil’s development and the economic recovery.
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The executive also emphasized that the investment aligns with market expansion while increasing the company’s portfolio. ArcelorMittal’s mission with the investments in RJ is to offer an ever-increasing range of products. The company’s leadership position does not make it complacent; rather, it drives them to continuously seek improvements to meet their customers’ demands.
The expansion project, which promises to generate thousands of jobs, aims to enhance the current rolling mill, improve the steelmaking facility, and also install a new rolling mill to ensure a superior quality product portfolio. Thus, with the new line, ArcelorMittal’s rolling capacity is expected to rise to 500,000 tons per year. The steelmaking facility will double its capacity. At the peak of construction, approximately 1,200 jobs will be created. It is estimated that in this new investment phase alone, 200 direct jobs and 150 indirect jobs will be generated.
ArcelorMittal Celebrates 100 Years in the Market
The arrival of new investments at the RJ plant coincides with the celebration of 100 years of operation in the Long Steel sector in the country and its commitment to the development of the next century of its history.
The investments announced this Thursday complement the previous R$ 4.3 billion investment from November 2021, which focused on increasing the production capacity of the Monlevade plant in Minas Gerais. The unit in Minas Gerais will double its production capacity from 1.2 million tons per year to 2.2 million tons per year by 2024.
Steel Production in the Country Reaches 26.4 Million Tons
The investments were decided based on a strategic business analysis. National crude steel production reached 36 million tons, with an expansion of nearly 15% over the last year compared to 2020, according to Instituto Aço Brasil.
The apparent usage of products reached 26.4 million tons, increasing by 23% last year compared to the previous year. Therefore, even if last year’s excellent results are not maintained, the company sees that there is a great demand for steel to come in key sectors of the national economy, such as construction, machinery and equipment, the automotive sector, and many others.
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