Arcelor, Spain co to set up Romanian centre

LUXEMBOURG: Arcelor, the world’s second-largest steelmaker, is to set up a steel service centre in Romania with Spain’s Bamesa, the two companies investing 30m euros ($38m) until ’08.

“This new centre will be 40% owned by Arcelor and will be located in the Topoloveni region, close to the Dacia (Renault group) plants that produce the Logan car,” Arcelor said in a statement issued here on Monday.

The centre, with eventual annual production capacity of 300,000 tonne, will be up and running in the first half of ’07.