VANCOUVER (miningweekly.com) - Luxembourg-based multinational steel manufacturing corporation ArcelorMittal has committed to spend C$70-million by 2020 to upgrade its Contrecoeur steel mill, in Quebec.
The upgrade plans include expanding rolling capacity by 100 000 t/y by replacing two reheating furnaces at its Contrecoeur-East wire rod mill for about C$30-million, and its Contrecoeur-West bar mill at cost of about C$33-million.
At the same time, ArcelorMittal will also be replacing the dust collector at the Contrecoeur-West steelworks by the end of 2018 to improve its performance and increase health and safety standards. This work will cost about C$6-million.
ArcelorMittal noted that the investments were made possible in part by the Quebec government's electricity rebate programme for L-rate customers, announced by the provincial government in the 2016/17 budget. This electricity rebate is intended for companies engaging in major investment projects in the manufacturing sector as well as in the transformation of natural resources. The ArcelorMittal investment project rebate is currently estimated at C$25-million until 2020.
Further, ArcelorMittal Long Products Canada has invested C$27-million for a new finishing line at its Longueuil mill, a project which was completed in June 2017.
