Mittal invests 2.5m dollars in Hunedoara

On Monday, Mittal Steel announced that it had invested 2.5 million dollars in modernising and retooling its plant over the 2005-2006 period. The company has made a series of investments necessary to increase the operating speed and reduce the consumption of electrical power, liquid oxygen and natural gas this year. According to a company release, next year Mittal Steel intends to complete work on a steel casting installation that will help to prevent blockages in the production flow, as well as reduce energy consumption and production costs. The investment will also reduce maintenance costs and will allow the company to meet environmental standards. Mittal Steel Hunedoara posted turnover worth 370.6 million RON (104.6 million euros) in the first half, a 17% increase. Profit stood at 4.2 million RON, after losses in the January-June period
of 2005.