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Brazil's Ceará state seeking to attract new rolling mills - 25 October 2011

Officials in Ceará are committed to attracting rolling mills to northeastern Brazil and have signed a deal with a Spanish company, as construction work continues on the massive Companhia Siderúrgica do Pecém (CSP) slab plant.

Steel Business Briefing learns from local authorities that the agreement with the unnamed Spanish group involves a R$200m plant (US$114m), with the state funding 10% of the investment.

Meanwhile, Ceará state governor Cid Gomes says he expects around 600,000 tonnes per year of slabs from the US$4.2bn CSP joint venture will be rolled in the state.

The huge project, which involves Vale, Posco and Dongkuk and is expected to begin operations in 2014, will produce at least 3m t/y of slabs, and possibly double that total if investors get their wish, SBB notes.

 

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