ArcelorMittal to invest EUR 40 mln in Galati steel plant in Romania

The ArcelorMittal group will invest this year EUR 40 million in its steel plant in Galati, but it could cut the number of employees, by applying a new pre-retirement scheme. Bruno Ribo, director of ArcelorMittal Galati, said that the Government’s energy regulations have helped the plant, but these are not sufficient for long-term investors, reports local Mediafax. The company, which has invested EUR 85 million in the plant’s furnace no.5, has now more control over production and needs fewer employees, said Ribo. It might apply the pre-retirement scheme, which the company also used last year. In 2014, about 365 employees who were close to retirement left earlier due to this system. The plant has now about 6,500 employees. editor@romania-insider.com