ArcelorMittal plans to invest in a new steel mill at its plant in the north-east of the Czech Republic. The mill will cost in the region of a ‘high single digit billion Czech crowns, according to Czech daily newspaper Hospodarske Noviny.

According to Aditya Mittal, ArcelorMittal’s chief financial officer, the new mill will rely upon modern production technology. The world’s largest steelmaker will officially announce the investment next year.