The investment has a capacity of 120,000 tons of pipes a year and is designed to increase efficiency and reduce costs, said Gonzalo Urquijo, board member at ArcelorMittal.
ArcelorMittal Tubular Products Iasi is the largest producer of longitudinally welded pipes in Romania.
Apart from the Iasi division, ArcelorMittal owns three other steel plants in Romania, as well as a harbor operator and the construction company ArcelorMittal Construction.