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Vale to Invest in Brazilian Steel Mill
08/15/2008 - Companhia Vale do Rio Doce announces its intention to build a 2.5 million tonnes/year steel plant in Brazil.
Companhia Vale do Rio Doce (Vale) announced its intention to build a steel production facility in Marabá, in the state of Pará, Brazil.
The company is planning to install as a coke plant plus an integrated plant for the production of hot rolled coil, heavy plate and billet in Barcarena, Brazil.
Vale said the mill will have a planned annual production capacity of 2.5 million tonnes of semi-finished steel. The plant will be constructed to accommodate expansion to a future annual production capacity of five million tonnes per year,
The total investment is estimated at US$ 3.3 billion. The project is estimated to create 16,000 new jobs in the construction phase and 3500 jobs in the operational phase.
In accordance with its strategy for the steel industry, Vale said that it is looking for partners for this project. The company’s objective is the promotion of growth of the Brazilian steel industry, and increased consumption of high-quality iron ore.
Start up is targeted for 2013
