ArcelorMittal to invest US$1 billion in Mexico

The steel making giant, ArcelorMittal, based in Luxemburg, has recently announced that it will invest US$1 billion in Mexico over the next three years. The President of the administration council of the company, Lakshmi Mittal, added that this investment will generate 800 new direct jobs, plus 3000 indirect jobs in the State of Michoacan and its neighboring areas. ArcelorMittal has presence in 60 countries, with an annual production capacity of 114 million tons of liquid steel.