ArcelorMittal plans to invest 75 million Bosnian convertible marks, or about US$47 million, to overhaul a blast furnace at its Bosnian steel plant, Reuters reported March 23.

The investment will extend the plant's life by 15 to 20 years and improve environmental standards.

The company will install three filters at the plant that are designed to capture 95% of harmful gases and reduce dust emissions, plant spokesperson Dijana Bozic-Srdanovic said.

Work at the facility will start in coming days, and completion is expected by the end of June, Bozic-Srdanovic said.

As of March 23, US$1 was equivalent to 1.58 Bosnian convertible marks.