Steelmakers around the world ramp up capital expenditure
Moscow
AFTER years of losses, plant closings and job cuts, some of the world's biggest steelmakers are ready to spend more money on their businesses. Combined capital expenditure planned this year by top producer ArcelorMittal, South Korea's Posco and Russia's Novolipetsk Steel PJSC will be up 29 per cent to US$6.7 billion in 2017, the first increase since 2014, according to estimates by the companies.
Increases also are planned by some American and European companies, including US Steel Corp and Thyssenkrupp AG. Investments will mostly be targeted at expansions in key markets and new technologies.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Shell to exit South Africa's downstream businesses
EU clears Nippon Steel's US$14.9 billion purchase of US Steel
Shell in talks to sell Malaysia fuel stations to Saudi Aramco: sources
Indonesia's PGN, Freeport sign gas supply deal for smelter
Maersk says Red Sea disruption will cut capacity by 15-20% in Q2
China’s Sinopec in talks for gas offtake, stake in Canada’s Cedar LNG