ArcelorMittal to expand Brazil steel capacity starting in June

Will invest 352 million reais beginning in June for the same

ArcelorMittal SA, the world's largest steelmaker, will resume its expansion of long steel capacity in Brazil with an investment of 352 million reais beginning in June, the head of its Americas unit said.

The executive, Jefferson de Paula, told journalists in Sao Paulo on Thursday that the first phase of the project will expand two mills and install a new rolling mill. A second phase contingent on market demand, he said. The company had shelved Brazil expansion plans in 2011.

Overall, he said ArcelorMittal will invest $400 million in the Americas this year.