Posted in | News | Ferrous Alloys and Metals | Minerals | Iron and Steel

MOU Signed for Construction of a US$2 Billion Steel Slab Plant in Brazil

Nov 22 2007

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Companhia Vale do Rio Doce – (CVRD) announces that it signed a Memorandum of Understanding with Dongkuk Steel Mill Co. (Dongkuk) on November 20, 2007, one of the largest steel producers in South Korea, for the construction of an integrated steel slab plant in the Industrial District of Pecém, in the Brazilian State of Ceará.

The viability study of this project is expected to be completed in coming months. The project encompasses the construction of an integrated steel slab plant, which will use coal, with an initial production capacity of 2.5 million tons per year, with the possibility to be expanded to 5 million tons per year. The investment for the first phase of this project is expected to be US$2 billion.

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