Steel giant, ArcelorMittal MT announced that Singapore’s Changi airport will have a landmark retail and leisure complex using ArcelorMittal steel beams. The foundation of the complex will be built on ArcelorMittal steel beams weighing 7,000 tons and ranging from 12 to 30.7 meters. These beams will be the longest ever delivered by the company to Singapore.
ArcelorMittal has started delivery of steel to the complex in Feb 2015 and will extend deliveries until Apr or May 2015, with the airport’s “Jewel” complex scheduled for completion in late 2018.
The Jewel Changi Airport will provide exceptional features like the world’s tallest indoor waterfall – the 40-metre high “Rain Vortex”. The waterfall will become a dramatic light show during the night. It will be located in the heart of a five-storey garden – one of the largest indoor plant collections in the country, as a tribute to Singapore’s reputation of being a garden city.
Other features that the complex will include are leisure attractions, shops and a hotel. It will also have various eating options such as cafes, bars, restaurants and a street-food marketplace offering signature Singaporean cuisines. The Jewel Airport complex will thus double as an attractive tourist destination for internationals too.
ArcelorMittal currently carries a Zacks Rank #4 (Sell).
Better-ranked companies in the steel space include ThyssenKrupp AG TYEKF, Commercial Metals Company CMC and LB Foster Co. FSTR. While ThyssenKrupp sports a Zacks Rank #1 (Strong Buy), Commercial Metals and LB Foster carry a Zacks Rank #2 (Buy).
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