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Spanish group plans steel rolling mill in Brazil's Ceará state

February 10, 2012 - 09:49 GMT Location: São Paulo

KEYWORDS: Brazil , rolling mill , steel , Ceará , Spain , Grupo Añon , Vale , CSP

Spain’s Grupo Añon has signed a memorandum of understanding with the government of Brazil’s Ceará state to build a rolling mill close to Vale’s proposed slab plant, Companhia Siderúrgica do Pecém (CSP).

The Spanish group will invest about $600 million in the steel project, while Ceará state, in Brazil’s northeastern region, plans to hold a 10% stake, Eduardo Neves, infrastructure director at state development agency Adece, told Metal Bulletin. The rolling project is designed to be divided into two phases: the first will have a 500,000 tpy rolling capacity for both long and flat steel products,...

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