The supervisory bodies of ThyssenKrupp have endorsed the continued pursuit of the project to build a steel mill in Brazil.

The supervisory boards discussed the project and unanimously reached a positive assessment based on the findings of the feasibility study and having reached agreement on key fundamental areas of the steel mill project. Final decisions will be made at their next meetings, after clarification of various external factors.

The Brazilian steel mill is to produce 4.4 million tonnes of slabs per year for ThyssenKrupp
Stahl AG. A total investment volume of 1.88 billion US Dollar (1.5 billion Euro) is planned for the production facilities, port and infrastructure. The world’s biggest iron ore producer, Companhia Vale do Rio Doce (CVRD), will take a stake of 10% in the project, which will be located in the coastal location of Sepetiba in the state of Rio de Janeiro.