ArcelorMittal to set up steel mill in IraqMarch 16th, 2010 - 8:02 pm ICT by IANS
New Delhi, March 16 (IANS) ArcelorMittal, the world’s largest steel maker, Tuesday said it has joined hands with Dayen of Turkey to set up a steel mill in Iraq at an investment of $130 million.
The two companies have signed a memorandum of understanding to establish a joint venture for building a mini-mill with electric furnace in Sulaimaniyah in Northern Iraq, a company statement said.
The Luxembourg-based ArcelorMittal, led by NRI billionaire L N Mittal, said the two companies will jointly invest $100-$130 million in the plant which will produce per year around 250,000 metric tonnes of steel bars used by builders.
“There is great demand for steel products for the local construction industry, which we aim to meet, working closely with Dayen,” the statement added.
- ArcelorMittal, partner nearing absolute control of Baffinland - Feb 08, 2011
- Arcelor, partner in virtual takeover of iron-ore giant - Feb 19, 2011
- ArcelorMittal hikes bid for Canadian iron ore giant - Jan 01, 2011
- S&P; cuts ArcelorMittal ratings to junk status - Aug 03, 2012
- Rival betters ArcelorMittal's offer for Toronto mining company - Jan 03, 2011
- ArcelorMittal Liberia announces first iron ore shipment - Mar 20, 2012
- Jharkhand considering MoU renewal for ArcelorMittal steel plant - Aug 01, 2012
- ArcelorMittal laying off nearly 1,000 at US plant - May 14, 2009
- Arcelor-Mittal signs $6 bn credit facility agreement - Mar 22, 2011
- ArcelorMittal to invest $5 bn in new steel mill in Brazil - Nov 06, 2009
- ArcelorMittal set to buy Canadian iron ore company for $433 million - Dec 16, 2010
- Belgian trade union files complaint against ArcelorMittal - Feb 21, 2012
- Indian artist's house in London occupied by protesters - Jun 22, 2012
- ArcelorMittal to pursue steel projects in Orissa, Jharkhand - Nov 27, 2009
- ArcelorMittal says it won't extend Canadian takeover offer - Dec 23, 2010
Tags: arcelormittal, billionaire, construction industry, dayen, electric furnace, joint venture, l n mittal, local construction, memorandum of understanding, metric tonnes, mini mill, New Delhi, northern iraq, steel bars, steel maker, steel mill, steel products, sulaimaniyah, turkey