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POSCO Breaks Ground on CSP Steel Complex in Brazil
07/17/2012 - The Brazil CSP Steel Plant Complex, the largest-ever overseas steel plant construction order won by POSCO E&C of Korea, has commenced.
The Brazil CSP Steel Plant Complex, the largest-ever overseas steel plant construction order won by POSCO E&C of Korea, has commenced.
POSCO E&C held its groundbreaking ceremony for the Brazil CSP Steel Plant Complex on 17 July 2012 at the Pecem Industrial Complex in Ceara in northeastern Brazil.
The Brazil CSP Steel Plant Complex worth US$4.34 billion, for which POSCO E&C won the construction order, is a project being pursued by CSP (Companhia Siderurgica do Pecem), a joint venture of Vale (50%), which is Brazil's largest iron ore supplier, Dongkuk Steel (30%), and POSCO (20%).
The first stage of the Brazil CSP Steel Plant Complex, which is scheduled to produce 3 million tons of slabs, is expected to be completed by late August 2015.
In the first stage, POSCO E&C will engage a turn-key method for all parts of the steel plant, from its engineering, procurement, construction and test runs, through raw material handling and lime calcination, coke oven equipment, blast furnace, steel making, continuous casting, and generation and auxiliary facilities.
Since the Brazil CSP Steel Plant Complex is located in northeastern Brazil, opening the doors to the American and European markets, POSCO E&C is planning to expand its business fields to the Americas and Eastern Europe after successfully completing the project.
For this, POSCO E&C is strengthening its business capacities in the Central and South American regions by establishing a strategic partnership with Vale, a world-renowned resource development company. At the same time, it is also concentrating on finding new business areas in various sectors, such as civil engineering, architecture, and the environment.
POSCO E&C became the first Korean construction company in 2006 to enter the Chilean energy construction market, and it is expected that it will further strengthen its foothold in the Brazilian construction market in the future.
