In order to keep up with growing Brazilian steel demand, ArcelorMittal may invest $1 billion to add 3 million metric tons (mt) a year of hot rolled coil rolling capacity to its Tubarao works in southeast Brazil.
ArcelorMittal's Tubarao mill was originally set up to produce and export steel slabs, but the company has been upgrading the mill to produce more flat-rolled finished steel products, recently installing 4 million mt of flat steel making capacity. With the new investment, the Tubarao mill will process all of the slabs it creates for flat-rolled steel to be used in Brazil.
An official decision on the investment will be announced at the end of 2012.