ArcelorMittal to build steel plant in Russia

ArcelorMittal announced that it has signed an agreement with the administration of the Tver region in Russia that will lead to the creation of a greenfield long carbon steel production unit.

The agreement was with the governor of the Tver oblast, Dmitry Zelenin.

The objective of the agreement is to make available to ArcelorMittal the land required to build a steel complex consisting of an electric arc furnace (EAF), with a capacity of one million tons of steel, and of two bar mills. The steel complex will be built in two phases.

Work on the site will start during the second quarter of 2008 and commissioning of the mill is scheduled for the beginning of 2010.