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Posco E&C to Construct Steel Mill for CSP
12/20/2011 - Companhia Siderúrgica do Pecém (CSP) and Posco Engineering & Construction (E&C) have signed a contract for Posco E&C to engineer, supply equipment for, construct, and commission the CSP steel mill in Ceará state. Start-up is estimated for the first half of 2015.
Companhia Siderúrgica do Pecém (CSP) and Posco Engineering & Construction (E&C) have signed a contract for the construction of the CSP steel mill in Ceará state. Posco E&C will be responsible for engineering, equipment supply, construction, and commissioning of the steel mill.
The integrated steel plant will have an annual production capacity of 3 million tonnes of steel slabs, with potential for expansion to up to 6 million tonnes per year in a second phase. Earthmoving activities are currently under way. Start-up is estimated for the first half of 2015.
Ceará state governor Cid Ferreira Gomes, Vale President and CEO Murilo Ferreira, executive directors José Carlos Martins and Galib Chaim, and Posco E&C President Chung Dong-Hwa attended the ceremony. For CSP, Board President Aristides Corbellini (Vale) and board members Yung-II Mun (Dongkuk) and Young-Sig Kwon (Posco) as well as CSP President Marcos Chiorboli also attended the event.
The project is expected to help Brazil’s steel industry to continue growing, while adding value to iron ore and generating wealth and development for the state of Ceará. The state was chosen due to its logistics facilities and its strategic location close to export markets.
According to CSP, a significant part of the project’s total investment is allocated to acquiring modern equipment to monitor and control air emissions, liquid effluents, and other waste.
CSP is a joint venture formed by Vale, with a 50% stake, and the South Korean steelmakers Dongkuk Steel and Posco, with 30% and 20% stakes, respectively.
