CONTRECOEUR — ArcelorMittal Long Products Canada announces major investments of nearly $56 million USD ($70 million Canadian) by 2020 in its steel production facility in Contrecoeur, Quebec. These funds will enable the company to maintain its position as a North American steel leader, with a focus on product quality through more modern plants and a reduced environmental footprint.
ArcelorMittal will replace two reheating furnaces, namely the Contrecoeur-Est wire rod mill (approximately $24 million USD or $30 million Canadian) and the Contrecoeur-Ouest bar mill (approximately $26 million USD or $33 million Canadian). These new furnaces, which aim to increase the company's rolling capacity by 100,000 tonnes, will enable greater productivity, optimal energy use and reduced greenhouse gas emissions. The work should extend until the first half of 2020.
At the same time, ArcelorMittal will also be replacing the dust collector at the Contrecoeur-Ouest steel mill in order to improve its performance and increase health and safety for the benefit of workers and the communities by the end of 2018. This work will be done at a cost of approximately $4 million USD ($6 million Canadian.)
These investments are made possible thanks to the electricity rebate program for consumers charged at Rate "L", announced by the Government of Québec in the 2016-2017 Budget. This electricity rebate is intended for companies engaging in major investment projects in the manufacturing sector as well as in the transformation of natural resources. The ArcelorMittal investment project rebate is currently estimated at $20 million USD ($25 million Canadian) by the year 2020.
In addition to these new announcements, ArcelorMittal Long Products Canada has contributed $21 million USD ($27 million Canadian) for a new finishing line at its Longueuil mill, which was completed in June 2017. Past and future work requires to many suppliers and subcontractors, most from local communities, which adds to the economic benefits of projects.
