It is reported that ArcelorMittal Brazil may delay its expansion plan at its steel long product unit Monlevade in 2012.
Mr Augusto Espeschit president of the company's longs divisions for South America said that it will continue to delay the USD 1.2 billion investment since this plant is not specially linked to the domestic market, which is forecast to grow by 5% to 7% in long product consumption.
In the background, the steel long product unit Monlevade was expected to increase the capacity to 2.4 million tonnes per year from the current 1.2 million tonnes through the expansion plan. The construction was previously planned to be completed in October 2012.
Sourced from yieh.com