Vale, CCCC to build steel rolling mill in Brazil by 2023

China Communications Construction Co (CCCC) plans to build a steel rolling mill by 2023 in Marabá, a city in the Brazilian northern state of Pará, through its local subsidiary Concremat, the company said on Thursday May 23.

Iron ore producer Vale will be involved as well, ensuring collateral for the project funding, the miner stated. The unit will need around 1.5 billion Reais ($371 million) in capital expenditures.

Initial plans are to use slabs as raw material to produce 300,000 tonnes of steel...

Published

Felipe Peroni

Renato Rostás

May 23, 2019

22:43 GMT

São Paulo