|
LNM to invest in Algeria |
| LNM
Holdings is to invest $175m over 10 years in Ispat Annaba, the ex-Alfasid
operation in Algeria. In October, LNM Holdings took a 70% stake in the flat
and long products company. The new general director is Shridher Marar. The company's investment plans include $140m to upgrade the steel mill equipment, cut costs, boost production, and improve customer service. Production should reach 1.5m tonnes by 2005, from 700,000t today. Also, the company is to invest $35m in doubling mine production to 3m t/y over the next five years. The company says it anticipates some synergies between Ispat Karmet and Ispat Annaba, particularly in terms of finishing. But the main focus of sales is likely to remain the Maghreb. Exports to Europe are not seen as a priority. |
| 27th Dec 2001 |
MEsteel.com
- Linking steel buyers and sellers in the Middle East. info@mesteel.com
Tel:+971-4-3494995 Fax:+971-4-3494997 P.O. Box 57040, Dubai, United Arab
Emirates.
About Us |
Add Your Company
| Advertise
| FAQ
Copyright © 2001 mesteel.com. All rights reserved. Disclaimer