ArcelorMittal and Borusan in a $500 Million JV

Published by admin on October 24th, 2007 | Tagged Business, News, Strategic Management

ArcelorMittal has entered into a $500 Million fifty-fifty Joint Venture with Borusan to build a new mill in Turkey.

The new mill is going to be located next to the Borcelik plant in Gemlik,Turkey.

ArcelorMittal is the world’s largest steel maker,having industrial presence all over the world.ArcelorMittal has 320,000 employees in more than 60 countries.

Borusan is Turkey’s leading steel company and the market here is expected to grow at the rate of 6 % per year for the next 10 years.

This Plant will start in the year 2010 and will have a capacity of 4.8 million tonnes.

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