Arcelor will invest 15.5 million in 2010, the Basque plants after the surge in demand

arcelor mittal, pioneer worldwide in the production of steel, has announced that it intends to invest around 15.5 million euros next year in a number of factories that in the Basque country, noting a surge in production in the third quarter of this year, according to its director general, Gonzalo Urquijo, on the occasion of the presentation of the results of the first nine months.

Despite this improvement, "the worst has passed", said Chairman Lakshmi Mittal, which recognized that the improvement of the emerging countries, the replenishment of stocks in warehouses and the pull of sales of cars in Europe have allowed back losses. Analysing the situation of Basque plants, Urquijo noted that almost all increased their output in relation to the previous quarter and the utilization of productive capacities is 76%, above the world average of the group. In this regard, he stressed that Arcelor Mittal will invest four billion euros in 2010 in each of the Guipuzcoan plants of Olaberria, Bergara and Zumarraga. The production of profiles in Olaberria has both, emphasized Urquijo, which highlighted the good international competitiveness of the former factory of Aristrain.