Mittal to invest 2.2 billion dollars in Senegal

0 Comments | AFP, February, 2007

PARIS (AFP) — The global steel giant Arcelor Mittal said on Friday that it intended to invest 2.2 billion dollars (1.69 billion euros) in developing an iron mine and infrastructure in Senegal, considering West Africa to be a major centre for its mineral supplies.

The investment plan covers development of a mine near Faleme in the south east of the country, the construction of a port near Dakar and the development of about 750 kilometres (470 miles) of rail infrastructure to link the mine to the port.

The mine would begin production in 2011 and would have an annual capacity of 15-25 million tonnes.

Arcelor Mittal also said that it was also considering investing in steel-making facilities in the country.

An agreement for the investments, signed with...