ArcelorMittal to invest 92 mn euros in France

ArcelorMittal, the world's largest steel producer, Wednesday announced a 92-million-euro (about $124 million) investment to revamp its plant in Dunkirk, north France.

The investment is aimed at bolstering Dunkirk plant's capacity to produce 7 million tonnes of slab, to supply other plants within ArcelorMittal including Florange and Liege, reported Xinhua citing the company in a statement.

ArcelorMittal's fresh four month-revamp plan will be implemented during the second half of 2015, it added on its website.

"This announcement shows the group's commitment to long-term investments in France and to reinforce its activities in the country. It also confirms the group's strategy in France and Europe," said Henri-Pierre Orsoni, CEO of ArcelorMittal Atlantique and Lorraine.