ArcelorMittal  will set up a USD 130 million steel plant in war-torn Iraq in collaboration with Turkish firm Dayen.

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ArcelorMittal has signed an MoU to establish a joint venture with Turkish partner Dayen to build a steel mini-mill with electric furnace in Sulaimaniyah in Northern Iraq

The mill would annually produce in its initial phase up to 2.50 lakh tonnes of rebars from locally sourced scrap at an estimated investment of “USD 100m to USD 130m, jointly subscribed by ArcelorMittal and Dayen.”

Rebars are primarily used by construction and infrastructure companies

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