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11 Jun 2019, Radoslav Yordanov, EMIS Editor

ArcelorMittal might invest additional $ 1bn in Mexico

The world's biggest steelmaker ArcelorMittal could invest additional USD 1bn in Mexico, country's president Andres Manuel Lopez Obrador said quoted by El Economista. Lopez Obrador made this announcement after his meeting with company's president Lakshmi Mittal on Monday.

The Mexican president said that the corporation already invested USD 600mn in its plant in the state of Michoacan which generates 8000 direct jobs and 50.000 indirect jobs.

Lopez Obrador underlined that after the meeting the steelmaker now explores the possibility of investing additional 1bn in different projects in the country which “will generate more jobs and will strenghten the domestic market”.

On the other hand, Lakshmi Mittal said that Lopez Obrador's economic policy gives him “confidence that Mexico is the place to invest” and added that his company is willing to produce in the country goods that will subsitute the steel imports.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: El Economista

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