Mittal invests $102m in technology

The steel plant Mittal Steel Galati, owned by the biggest steel producer worldwide, Mittal Steel, made investments worth 102.21 million dollars (some 85 million euros) in technological projects, about a 3-fold increase on the sum they had agreed on in the privatisation contract. Technological investments conducted by Mittal Steel Galati over the last four years amount to 323 million dollars (almost 270 million euros). According to the privatisation contract, the company will undertake an investment of 175 million dollars by 2011. “Mittal Steel Galati has a significant investment plan targeting both an increase of our productivity and our products” competitiveness,” stated Hans Ludwig Rosenstock, chief operating officer of Mittal Steel Galati. ZF