On February 6, 2025, ArcelorMittal announced a R$3.8-4 billion investment in its Tubarão facility, part of a R$25 billion strategic plan for Brazil for the period from 2022 to 2028.

The project includes a new cold strip mill and a continuous coating line to improve cold-rolled steel production capacity for the automotive, appliance, and construction industries.

The construction is scheduled for the first half of 2026, with operations by mid-2029. The project is expected to bring up to 2,500 jobs during the construction period and 450 permanent job vacancies after full operations.

Jorge Oliveira, CEO of Flat South America at ArcelorMittal said the project will lead to market share growth, without impacting the environment.