ArcelorMittal signed an agreement with the administration of the Tver region in Russia for the eventual creation of a greenfield long carbon steel production unit. The agreement is to make land available to ArcelorMittal for the construction of a 1,000,000-metric-ton/year steel production complex comprising an electric arc furnace (EAF) melt shop and two bar mills. The facility is to be built in two phases, beginning with a 600,000-metric-ton/year bar mill for the production of rebars and merchant bars. Work is scheduled to start during the second quarter of 2008.
ArcelorMittal’s sale of Sparrows Point Works to E2 Acquisition Corp. – a consortium that includes Esmark Inc. and Wheeling-Pittsburgh Corp. – has been cancelled. E2 Acquisition intends to continue working to complete the purchase.
ArcelorMittal to Build Greenfield Facility
December 20, 2007