Mittal Steel Highlights 1989
Caribbean Ispat begins operations in Trinidad & Tobago
Caribbean Ispat is formed to lease the Iron & Steel Company of Trinidad & Tobago, a modern, technologically advanced steel complex. New management lifts production, broadens the product mix and customer base, improves processes and cuts costs. Caribbean Ispat makes a profit in its first year. Over the following 15 years, steel production using the integrated mini-mill process trebles with steel shipments of 1.0 million tonnes in 2003.
In 1994, Ispat International buys the assets of Caribbean Ispat (Mittal Steel Point Lisas), now the largest non-oil industrial complex in the Caribbean. In 1999, it opens the largest DRI Midrex plant in the world.