The board of ArcelorMittal has approved the €52 million investment in the Furnace Plant 2 at Galati facility. The management described this announcement as very encouraging and important, which “reaffirms the Group’s commitment to keep the hot flow in the plant”.
The steel maker put in place another capital repair program at furnace plant 5 in 2006, under Indian leadership, but the repair works were poor and criticized by the French management, citing low-quality design and work, saying it was carried with cheap materials and with too many subcontractors with no track record of supporting older models. The furnace restarted under poor conditions, based on an “unrealistic planning”. The furnace has neither been properly operated. The future repair works will be carried using the “newest and state-of-the-art technologies”, with reliable and experienced contractors and vendors.
For a proper operation of the furnace, a send-in team will be assisted by Arcelor Mittal Asturias experts, a member of Mittal’s Plate Mill.
The management of Arcelor Mittal believes the repair and upgrade program for Furnace Plant 5 in Galati will extend the life span of the furnace to 15 years, in line with the Western Europe standards. The investment will also generate a reduction in operating costs. The local management warned that the “support from the Group will depend on the success rate of these actions”.
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