The world’s largest steel consortium has its sights set on Ceará, where it
has recently invested over R$2 billion. ArcelorMittal’s investment in Ceará
includes equipment purchases from local providers, expansion in steel
manufacturing and a major interest in renewable energy. The state authorities
have called the investment “a decisive factor” in Ceara’s economic growth.
ArcelorMittal investment to date
The presence of the steel giant in Ceará has already been a catalyst for the state’s economic development. In the year to April, the Indian multinational had invested over R$2.1 billion in equipment and services provided by local companies.
Purchases covered multiple sectors, including scrap metal, industrial equipment, sealants and packaging. According to the Ceará Federation of Industry (FIEC), this diversity shows ArcelorMittal’s commitment to strengthening production in the state and ties with local companies.
Boost to local companies
ArcelorMittal has also qualified its local providers, a gesture that has had two significant effects. Firstly, the initiative guarantees the quality of the purchases and, secondly, it allows local providers to extend their business to other large industries in the state.
As a result, ArcelorMittal’s investment in Ceará is a fundamental driver in the state economy, creating jobs and sustaining its production chain.
Interest in renewables
The steel giant is keen to transition to renewable energies and reduce its reliance on carbon fuels. It, therefore, plans to invest in new equipment and in clean energy such as solar and wind. Both of these are abundant in Ceará, one of the leading states in Brazil for renewable energy supplies.
ArcelorMittal is also looking at becoming a major player in green hydrogen production, already in process in Ceará. The state recently entered an agreement with the Netherlands to create a green hydrogen corridor.
Installation of laminating unit
In addition, Ceará companies have their eye on ArcelorMittal’s promise to install a laminating unit in the state at the Pecem Port Steel Complex. This unit would be fundamental in boosting the steel sector in Ceará.
It would open up the possibility of setting up car manufacturing in the region, and would provide raw materials to companies already in operation. As a result, ArcelorMittal’s presence and continued investment in Ceará is “a decisive factor” in the state’s economy, according to FIEC.
(Source: PetroleoeGas)
