ArcelorMittal Invests $ 162 Million in Burns Harbor

ArcelorMittal, a multinational steel corporation, has announced its decision to invest $ 162 million in its Burns Harbor, Indiana steel mill. The investment will be used to carry out upgrades at various sites over the next few years.

The multimillion-dollar investment is expected to bring significant improvements to the hot mill, according to a company press release. In addition, it will be used to install new cranes, a linear temper mill and a new main oxygen tank.

John Mengel, vice president and general manager of Burns Harbor, said these improvements will help keep baking ovens safe. The installation of the new vessel will further improve the reliability of steel production. The hot mill enhancements will expand the mill's product range to include hot rolled products of greater strength and thickness. An investment in pickling lines will improve packaging and delivery capabilities. In addition, the addition of a temper mill will improve product quality, Mengel added.

The City of Burns has already provided tax breaks for investments. ArcelorMittal praised the approval of the tax incentives, saying it will help the company secure the future of its operations.

Last week, Arcelor Mittal announced a $ 19.25 million investment to rebuild Coke Oven Battery # 2 at its Burns Harbor plant. Earlier in March, the company also announced a $ 140 million investment in a hot strip mill at the plant.