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ArcelorMittal Long Carbon Brazil
ArcelorMittal Brazil Steel Analyst Community Visit 24th March 2010 Disclaimer Forward-Looking Statements This document may contain forward-looking information and statements about ArcelorMittal and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements may be identified by the words “believe,” “expect,” “anticipate,” “target” or similar expressions. Although ArcelorMittal’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of ArcelorMittal’s securities are cautioned that forward-looking information and statements are subject to numerous risks and uncertainties, many of which are difficult to predict and generally beyond the control of ArcelorMittal, that could cause actual results and developments to differ materially and adversely from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the filings with the Luxembourg Stock Market Authority for the Financial Markets (Commission de Surveillance du Secteur Financier) and the United States Securities and Exchange Commission (the “SEC”) made or to be made by ArcelorMittal, including ArcelorMittal’s Annual Report on Form 20-F for the year ended December 31, 2008 filed with the SEC. ArcelorMittal undertakes no obligation to publicly update its forward-looking statements, whether as a result of new information, future events, or otherwise. 1 Agenda • ArcelorMittal Americas – – ArcelorMittal history and values Long and Flat Carbon Americas Organisational Structures & Industrial presence • ArcelorMittal Brazil – – – Structure Aligning Strategy Key figures – Macroeconomic Vision Brazil • ArcelorMittal Long Carbon Brazil – – – – Facilities and Product Mix Positioning in the Value Chain Health and Safety, Corporate Responsibility & Environment Key Figures • ArcelorMittal Monlevade – – – – – ArcelorMittal Monlevade Overview Product Applications Production flow and equipment Competitive strengths Performance Highlights • ArcelorMittal Monlevade Expansion project • Q&A 2 ArcelorMittal 3 ArcelorMittal history and values The world's leading steel company, with operations in more than 60 countries 2009 revenues of $65.1 billion and crude steel production of 73.2 million tonnes (8% of world steel output) Several international Partnerships and Joint Ventures ArcelorMittal brand values: Sustainability, Quality and Leadership 4 ArcelorMittal Americas 5 ArcelorMittal Americas Long and Flat Carbon Structures Group Management Board Lakshmi Mittal (CEO) Aditya Mittal(CFO) Davinder Chugh Peter Kukielski Sudhir Maheshwari Michel Wurth Christophe Cornier Gonzalo Urquijo Flat Carbon Americas Flat Americas Long Americas Louis Schorsch Gerson A. Menezes Brazil Benjamin Baptista USA Mike Rippey Canada Juergen Schachler Mexico Bill Chisholm Long Carbon Americas Finance Vaidya Sethuraman Business Optimization Jim Ray Human Resources Dale Laidlaw Government Relations Neil Messick Communications and CR Bill Steers Engineering Bill Ball Central & South Augusto Espeschit Controlling & Cont. Impr. Marc Ruppert Mexico Bill Chisholm Human Resources Vanderlei Schiller North P. S. Venkat Engineering Proj. Paulo Salomão IT Newton Lima 6 Long Carbon Americas Steel Facilities CCEast LCNA Region/ Facility LCNA Longs Mexico LCCSA LCA Steel plants Crude Steel Capacity (ktpy) CCWest Main rolled products • Contrecoeur East • Contrecoeur West • Steelton • Indiana Bar • Georgetown • LaPlace • Vinton • 1700 (with slabs) • 600 • 600 • 600 • 500 (idled) • 600 • 250 • Wire Rod, MBQ • SBQ, Rebar • Rails • SBQ, Wire Rod • Wire Rod • MBQ • Rebar • Lázaro Cárdenas • Córdoba • Point Lisas • Acindar VC • Monlevade • Juiz de Fora • Piracicaba • Cariacica • 2000 • 100 (idled) • 900 • 1700 • 1200 • 1000 • 1000 • 600 • Rebar, Wire Rod • Rebar • Wire Rod • Rebar, Wire Rod, SBQ • Wire Rod • Rebar, Wire Rod • Rebar • MBQ 15 steel plants 13,350 Mtpy Indiana Bar Steelton Georgetown LaPlace LongsMexico Vinton Costa Rica Point Lisas LZC Córdoba LCCSA Monlevade Juiz de Fora -- Piracicaba Cariacica Acindar Villa Constitución 7 Flat Carbon Americas Steel Facilities • • • • Products: • slabs, hot-rolled coil, cold-rolled coil, coated Sparrows Pointproducts and plate. steel Main customers: • Distribution and processing, automotive, tubular products, construction, packaging, and appliances. Facilities: • Located at 8 integrated and mini-mill sites in 4 countries. Operations • Canada, the United States, Mexico and Brazil. 8 ArcelorMittal Brazil 9 ArcelorMittal Brazil Structure Flat Americas Long Americas Flat Carbon Americas Long Carbon Americas Board of Directors Louis Schorsch Gerson Alves Menezes CEO Flat Carbon South America Long Carbon Central and South America Paulo Geraldo de Sousa Benjamin M. Baptista Filho Benjamin M. Baptista Filho Augusto Espechit de Almeida Purchasing Central and South America Legal Affairs Wéllerson Ribeiro - GM Suzana Fagundes - GM VP of Controlling VP of Finance VP of HR & Institutional Adilson Martinelli Marcos A. Maia Vanderlei Schiller Relations 10 ArcelorMittal Brazil Aligning Strategy Our values • Quality • Leadership • Sustainability Our vision •To be the most admired worldwide: “the reference in global steelmaking”. Our mission Our strategy Our philosophy Our commitments •Establish a transparent and constructive dialogue that results in a favorable environment for ArcelorMittal Brasil actions. Reflect the global positioning of ArcelorMittal Group (regarding its values and long term strategic guidance, sustainability and continued environmental and social performance). Contribute with the interaction between ArcelorMittal Brasil and society. Transforming tomorrow •Consolidate relevant markets. Industrial excellence and market leadership. Continue growth strategy. •Safety above all. Multi-cultures and ethics. See beyond. Guided towards performance. Team work. •Surpass the value creation expected by our shareholders. Generate value to our customers. Make our company an exciting place to work at. 11 ArcelorMittal Brazil Key figures ArcelorMittal Brazil (Long plus Flat) key figures 2008 2009 results summary 2009 • More than 1,500 MUSD were returned to the Net Sales (MUS$) 12,370 7,747 shareholder. • Volume sold was 1% above the budget. EBITDA (MUS$) • EBITDA Long 19% above the budget mainly due to 4,014 2,024 input prices, management gains and fixed cost reduction. OFCF (MUS$) EBITDA Margin (%) 3,386 2,187 32 26 • Good EBITDA margin even with the financial crisis. AM Brazil represented 35% of AM Group EBITDA and 12% of Net Revenues in 2009 12 Macroeconomic Vision Brazil Brazilian economy is recovering faster than other economies and according to Economist Intelligence Unit (USA) will be the 6th economy in 2018 (GDP US$ 3,446 billions) It became 5th largest automobile producer, with up to US$11 billion investments announced for the next three/ four years, and targeting to reach 5 million units per year in 2014, 10% growth in 2010 forecast (3.5 millions units produced 2010). Export will increase 50% in 2010 reaching 750 mil units Big Projects announced for offshore Oil exploitation (Pre Salt), Iron Ore Mine expansion and Energy. Only 3 Hydroelectric plants in the North of Brazil (St. Antonio, Jirau and Belo Monte) means 300 kt of additional rebar consumption Construction is now getting US$ 14 billions in subsidy and US$ 30 billions of investments in affordable house project – “Minha casa, minha vida” targeting to reach 1 million affordable houses between 2010/2011 A significant investment in Infrastructure with ongoing Government Development Program (PAC) US$ 150 billions budgeted for the next three years (US$ 36 billions for 2010) World Cup in 2014 with US$ 9 billion investments, being 2.4 US$ billions in stadiums, others US$ 6 billions of transports & urban infrastructure, and US$ 0.5 bi in hospitality. For the Olympic Games in 2016 is forecasted in addition 13.5 US$ billion on investments According to the Brazilian Steel Institute (IABr), it’s expected additional steel demand of 1.1 million tons/year during the period of 2010 – 2016 due to 2014 World Cup and 2016 Olympic Games 13 ArcelorMittal Long Carbon Brazil 14 ArcelorMittal Long Carbon Brazil Steel Plants ArcelorMittal Monlevade Crude Steel Capacity Ktpy 1.200 ArcelorMittal Juiz de Fora 1.000 ArcelorMittal Piracicaba 1.050 ArcelorMittal Cariacica 600 Total 3.850 ktpy 15 ArcelorMittal Long Carbon Brazil Steel Transformation Plants Capacity Ktpy ArcelorMittal Sabará 100 Drawn Bars ArcelorMittal Juiz de Fora Annealed Wire 240 Nails ArcelorMittal São Paulo Cold Deformed rebar 100 Truss Total 440 ktpy 16 Welded Mesh ArcelorMittal Long Carbon Brazil Main Industrial Products & Applications Springs Tire Cord Shock Absorbers Steel Wool OffShore Piping Cables Merchant Bars Welding Rolled & Cold Drawing Bars 17 Fasteners (CHQ) ArcelorMittal Long Carbon Brazil Construction Products and Agribusiness Rebars Prestressed Cable for concrete Annealed Wires Gabions Galvanized Wire Barbed Wire Belgo 60 Nails Welded Meshes Trusses 18 ArcelorMittal Long Carbon Brazil Positioning in the Value Chain Upstream Own iron ore mining Own forests SOL coke plant Pig iron based on charcoal CO2 credits Scrap collecting and processing Own hydroelectric Steelmaking Specialized mills Flexibility: Mini mills Lower-cost integrated mills for specialties Leading technology Growth potential Downstream Value added: drawn and transformed products for construction and mechanical bars Strategic joint Market Product mix in various market segments Direct service to construction companies and industrial clients ventures for industrial wire production Multi-product distribution network power unit (140 MW) 19 Health and Safety Long Carbon Brazil Health and Safety frequency rate – Employees (cumulative)* Continuous effort to improve Health and Safety involving all levels participation: • Corporate campaigns: Care with Hands, Accidents during Carnival Holiday, Crushing, Dengue Mosquito, Influenza A H1N1 and Behavioral Long Carbon Brazil • JTZ - Journey to Zero with focus on elimination of Fatality and Lost Time Injuries • Health and Safety Day • Cross audits & Shop Floor Audits – SFA 1.70 • CIPA 1.04 0.90 Meetings – Internal Commission for Prevention of Accidents • OHSAS 18001 certification/ recertification • Safety 2007 2008 2009 Committee and Health Committee integrating Long, Flat and Stainless Frequency rate has been reducing year by year as result of a strong H&S Policy * IISI-standard: Fr = Lost Time Injuries per 1.000.000 worked hours; based on own personnel 20 Corporate Responsibility Long Carbon Brazil The corporate responsibility programs developed by the Long Carbon segment are developed in partnership with local governments, in order to promote real transformations in the communities where ArcelorMittal has industrial units. Here are some 2009 highlights: • Over 770,000 beneficiaries • 47 cities in Brazil benefited by ArcelorMittal’s programs • Best results ever achieved in a V-day. 4,083 employees of 11 Long Carbon units participated in the 2009 V-day, benefiting 3,517 people, with their volunteer work. • Two Annual Blood Donation Campaigns, involving 919 employees in 8 industrial plants. Seeing and living is one of the social programs developed in 2009. The initiative diagnoses visual acuity problems in public school children. At the end of the process, they receive free eyeglasses. • ArcelorMittal, through Fundação, sponsored 46 cultural projects. More than 200,000 were benefited, including 93 professionals that graduated in the art and culture postgraduation • Fundação also launched the Welding City program in Juiz de Fora, that enables and qualifies youngsters to work as welders and blowtorch operators. The initiatives are developed to strength the relationship with the communities 21 Environment Long Carbon Brazil Carbon Projects Regulated and Voluntary Markets Forest Project (PPF): 650.000 tCO2 / 5 years CDM Estimated Register: 2011 Carbonization Project: 250.000 tCO2/ year CDM Estimated Register: 2011 Industrial Project: 450.000 tCO2/ year CDM Estimated Register: 2011 Blast Furnace Gas Project: 46.555 tCO2 years VCS CDM – Clean Development Mechanism VCS – Voluntary Carbon Standard Estimated Register: 2010 22 Environment Long Carbon Brazil Environmental Management Systems (EMS) • ISO14000 in all plants • Zero Industrial Effluents Discharge • Water recirculation > 99% • SAP Environment, Health & Safety Management • • Residues and By-Products Module implemented in Long Carbon Brazil and Acindar EAF Slag Model House By-Products Sales, Marketing and Excellence (BSME) • Long Carbon Brazil By-Products Sales: KR$ 21.519 (2009) • Non Recovered Residues Index (Kg/t crude steel): 11,75 (ArcelorMittal Monlevade) AWARDS • AM Monlevade and AM Juiz de Fora recognized with Environmental Management Award of Minas Gerais State • “Prêmio Época de Mudanças Climáticas” – Época Magazine • “Prêmio Dê Crédito ao Meio Ambiente” – Environment Ministry and Industrial Magazine 23 Climate Change Award ArcelorMittal Long Carbon Brazil Key Figures ArcelorMittal Long Carbon Brazil key figures 2008 2009 2009 Shipments 26% Domestic Steel Shipments (kt) 3,535 3,047 EBITDA (MUS$) 1,466 1,060 OFCF (MUS$) 1,370 949 EBITDA Margin Steel (%) Exports 74% 2009 Results • Steel Shipments 4% above the budget • EBITDA 248 MUS$ above the budget 36 36 • OFCF 24% above the budget • Margin EBITDA was 6% higher than the budget reaching 36% More than 30% of Market Share in Brazil 24 ArcelorMittal Monlevade Overview Crude Steel Capacity 1,200 Ktpy Monlevade Plant is an integrated mill located in João Monlevade 120 km far from Belo Horizonte. The plant consists of: - 1 sinter plant - 1 blast furnace - 2 converters (1 stand by) - 1 ladle furnace - 1 continuous casting machine (6 strands) - 2 rolling mills ArcelorMittal Monlevade dedicated to production of high quality wire rod 25 ArcelorMittal Monlevade Wire Rod Applications Steel Cord / Bead Wire Petrol Exploitation Welding / Electrodes Suspension Springs Shock Absorbers Cold Heading Quality Steel Wool Wire Rope 90% of AM Monlevade wire rod are destined to Special Applications 26 Production flow and equipment Forno Ignição ar ar ar ar SINTER PLANT 1.750.000 tpy BLAST FURNACE 1.120.000 tpy BOF LADLE FURNACE CONTINUOUS CASTER ROLLING MILLS 1.300.000 tpy 1.250.000 tpy • Monlevade production flow allows production of specialties with low cost. • Production of specialties with short route (billet casting) was developed by Monlevade team 27 Main drivers for AM Monlevade competitiveness Iron ore mine 28 Main drivers for AM Monlevade competitiveness Vertical integration with access to iron ore Andrade mine • Iron ore mine situated close to Monlevade Steel Plant • It is linked to the plant by it’s own rail road with 11 km • It currently supplies the sinter plant with 1.5Mtpy of sinter-feed • In the period of 2005 to 2009 it was leased by VALE • ArcelorMittal regained possession of the mine from VALE in Nov. 2009 • The current treatment of iron ore is crushing and screening of hematite in dry conditions • Expansion project is on going for increase the production for 5.6Mtpy optimizing the reserves of itabirite and hematite ArcelorMittal Monlevade is in close proximity to Andrade iron ore mine – only 11KM away 29 Main drivers for AM Monlevade competitiveness Iron ore mine 1) Characteristics • • Hematite: iron content : >60% Itabirite: iron content : 38 to 60% 2) Chemical composition of Andrade sinter-feed - average Item Fe SiO2 P Content (%) 65.5 4.2 0.042 3) Resources ( million tons ) Total Hematite Itabirites (*) Others Total 94.8 Mt 318.3 Mt 13.1 Mt 426.2 Mt 4) Logistics • Iron ore treatment facilities: 2.0 Million tons/year, considering 3 shifts working system • 11 km of exclusive railroad. 5) Current production level • 1.5 Million tons /year 30 Main drivers for AM Monlevade competitiveness Management System Learning Committees ISO 9001:2000 PMQ: Silver Level BSC / Strategic Map PMQ: Gold Level Six Sigma Variability Reduction ISO 9002/ PQTO ISO 14001 OHSAS 18001 Six Sigma Training PGQE Supplier / Community National Quality Award 2006 (CEDAC room) GRD Audit Daily Routine Management GRD Management by Policies Vincent Gaeremynck Award: Bekaert prize Best worldwide supplier Management System TQC 1988 1990 CSR National Sustainability PMGA Award e PNQ 2001 1992 1993 1997 1999 2000 2001 2002 2003 31 2004 2005 2006 2007 Main drivers for AM Monlevade competitiveness Management System (IMPROVEMENT & INNOVATION) IMPROVEMENT CYCLE STRATEGIC POLICIES TARGETS & PROJECTS CORRECTIVE ACTION (Three Generation Report) STANDARDIZATION Solution on more skilled level • Technical Knowledge • Method - Black and Green Belts ASSESSMENT MEETINGS A P C D PROBLEM IDENTIFICATION TO ACTION PLAN PROJECTS EXECUTION (DAILY ROUTINE WORK) STANDARDIZATION CYCLE Technical Committee SHAKEDOWN (Chronic Problems) ABNORMALITY ANALYSIS FOLLOW-UP & AUDITS STANDARDS A S C D CONTROL ITEMS WORK EXECUTION AND TRAINING 32 Main drivers for AM Monlevade competitiveness Management System GMB General Manager LCA ArcelorMittal Monlevade Steelmaking Manager Steelmaking Sector Manager Foremen / Workers (Daily / Shift / Heat) LCCSA ArcelorMittal Brazil REBLOW INDEX / shift WIRE ROD COST (Long Steel) BILLET PRODUCTION TAP--TOTAP TO-TAP / shift TAP--TOTAP TO-TAP # BREAKOUTS/ GENERAL ADMIN. EXPENSES OFCF shift WIRE ROD OUTPUT EBITDA BILLET PRODUCTION MANAGEMENT GAINS SAFETY SG&A UTILIZATION RATE # STRAND FAILURE / shift BREAKOUT INDEX CAST SPEED REDUCTION / shift AVERAGE WEIGHT PER HEAT / shift Catch ball 33 Catch ball Catch ball Main drivers for AM Monlevade competitiveness People Employees Qualification Secondary School or Higher - % 94 97 97 98 Management / Academic Qualifications 99 • • 78 • MBA ------------------------------------------ 17 Graduated with Specialization --------- 59 Master of Science ------------------------ 36 65 56 Six Sigma Background • • 2002 2003 2004 2005 2006 2007 2008 2009 Black Belts (Engineers): ----------------- 74 Green Belts (Technicians): -------------138 Main Programs: - Technical Level Graduation Program (metallurgy, mechanic and electricity) - Plant Training Program (On the Job, Safety, Operational Procedures, etc) - Post Graduation Program - ArcelorMittal University Program (Management) 34 Main drivers for AM Monlevade competitiveness People Communication Administrative Meetings, Three-level Meetings, Communication Chain, Organization Morale Survey and Union Relationship Program Integration Breakfast with Workers, Integration Games, Summer Camping for Workers’ Children and Employees’ Families Visits Recognition Safety, Operational and Technical/Administrative Merit Awards; Rewarding Program for Workers’ Suggestions: CEDAC and Nota 10; 20 Years of Work Award (“Velha-Guarda” Watch) and Employee of the Year CSR – Corporate Social Responsibility Volunteering Program,Environmental Educational Programs, Tomorrow's Citizens, Town Economical Development Support, Job and Revenue Generation Program, Cultural Programs, Learning Quality Program and Support for Co-Contractors Corporate Social Responsibility 35 Performance Highlights 36 Safety Safety severity rate: Own and Co-contractors Safety frequency rate: Own and Co-contractors 4.83 0.27 0.23 3.15 2.40 0.15 1.49 1.31 0.82 1.51 0.17 1.42 0.09 0.90 0.09 0.09 2009 2010 ytd 0.06 0.04 2002 2003 2004 2005 2006 2007 2008 2009 2010 ytd 2002 2003 2004 2005 2006 2007 2008 Main Programs By-example Leadership Safety risk agents program Special Safety training program for Supervisors Cross-check auditing (LCCSA inter-units) Safety Minute Safety Patrol 37 Production (Ktpy) Sinter Hot Metal HPS 1,580 1,613 2003 2004 1,666 1,671 1,700 1,592 1,654 2008 2009 1,091 1,102 971 1,103 1,003 1,076 1,008 985 1,383 2002 2005 2006 2007 2002 2003 2004 Billets 1,233 1,113 1,127 2002 2003 1,218 1,213 2005 2006 2006 2007 2008 2009 Wire Rod 1,211 1,119 2004 2005 2007 2008 1,135 1,084 2009 2002 1,200 1,073 2003 1,153 1,141 1,180 1,130 1,063 2004 2005 2006 2007 38 2008 2009 Operational excellence Sinter Plant Productivity 38.9 38.9 35.6 39.7 39.9 41.0 387 373 404 40.5 39.5 39.8 With HPS (Hybrid Pelletized Sintering) Andrade Mine sinter feed utilization was increased from 49 to 100% 385 354 341 335 341 346 kg/ton t/m2.day HPS Coke Rate 325 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2002 2003 2004 2005 2006 2007 2008 2009 2010 ytd ytd Metallic Yield Utilization Rate - Caster (Calendar Time) 91.2 97.78 97.83 97.83 97.77 97.81 97.88 97.87 97.88 97.87 90.2 90.1 90.2 81.7 82.2 % % 90.8 86.2 86.1 2002 2003 2004 2005 2006 2007 2008 2009 2010 ytd 39 2010 2002 2003 2004 2005 2006 2007 2008 2009 ytd Environment Water Recirculation & Consumption 91.1 96.8 98.4 98.8 99.0 98.9 98.7 98.9 98.2 98.4 98.8 Eliminating the industrial effluents discharge Water Tanks building Optimize pumps concerning leakage and capacity Review concepts concerning operational procedures 18.2 6.4 3.6 3.1 1.8 2.0 2.0 2.1 2.4 3.0 2.1 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Review equipments automation Channels Interconnection Water Consumption (m3/t crude steel)ytd Recirculation Rate (% ) Non-Recoverable Residues Index (kg/t) Environmental Management System Use of Rolling Mills and Caster Scales (Sinter Plant) 58.0 42.0 Use of lime fines (Sinter Plant) 39.0 37.0 Use of Dedusting powders (Sinter Plant) Sell of Blast furnace Slag (Cement Companies) 15.0 13.0 11.7 11.8 11.8 Transform Steelshop Mud in Briquettes (SteelShop) Use of Rolling Mills Mud (Sinter Plant) Destination of all the oily residues (Cement companies) 40 2002 2003 2004 2005 2006 2007 2008 2009 2010 ytd R&D - New applications (Steelshop Slag – Road / Railway) ArcelorMittal Monlevade Expansion Project 41 In order to meet market demand, ArcelorMittal will invest ArcelorMittal Monlevade expansion (Mt) Monlevade expansion is being reinitiated and scope is under review kt Coil Market* Sales x Capacity (Monlevade Expansion) 4.000 3.500 3.000 2.500 2.000 1.500 1.000 500 - 3250 Following the growth of the ArcelorMittal Brazil long market and maintaining market share Taking advantage of Monlevade highly competitive 2100 cost and quality and leverage low cost Andrade mine located nearby 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Sales Monlevade Exp Capacity Further project understudy Step 2: Cariacica and Juiz de Fora: increase 1.4 million tons per year of Rebar, Structural Sections and SBQ Capacity constraint in Brazil to be tackled by resuming investments in Monlevade Reinitiating growth plan to capture market growth 42 Monlevade Plant Flow – After Expansion Production (ktpy) Sinter Plant Blast Furnace Steelmaking BOF EXISTING LF Rolling Mills CCM WR #2 1,750 1,120 1,200 1,150 SIMULTANEOUS BLOWING WR #1 EXPANSION Forno Ignição ar ar TOTAL ar 2,300 1,120 1,200 1,150 4,050 2,240 2,400 2,300 ar Rationale of the projects: Sustain AM’s market share in the region Take advantage of the Monlevade competitive production cost, high quality products and leverage low cost iron mine; Brazilian economy is estimated to become the 6th largest economy in 2018; Increase in steel consumption resulting from large projects : offshore oil exploitation, iron ore mining, power generation, infrastructure development, preparation for the World cup football competition in 2014 and Olympic games 43 in 2016. Q&A 44
