It is reported that ArcelorMittal has announced that it will invest €88 million on its four plants in Germany this year.

The four plants were Bremen, Duisburg, Hamburg and Eisenhttenstadt. The company aims to further increase the competitiveness with the investments, said the company’s CEO Frank Schulz.

The company invested around €630 in Germany over past five years.

Besides, the company said it had no plans to cut capacity further in Europe.