ArcelorMittal and Nippon Steel Corp., the world's two biggest makers of the alloy, will spend $240 million to more than double output capacity of galvanized steel at their I/N Kote plant in New Carlisle, Indiana.
The companies will build a production line with annual capacity of 480,000 metric tons, adding to the current output of 450,000 tons of hot-dipgalvanized steel wire, Luxembourg-based ArcelorMittal said in a statement distributed by Business Wire.
Construction of the new line is expected to be completed by 2010, ArcelorMittal said today in the statement.
I/N Kote, founded in 1991, is a joint venture between the two companies, said ArcelorMittal, the world's biggest steelmaker. Galvanized steel, a corrosion resistant form of the metal coated with zinc, is used in cars and construction.
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