Brazil's Usiminas investing $305mln to revamp Ipatinga blast furnace

Brazilian steelmaker Usiminas will invest 1.23 billion Reais ($305 million) to revamp the No3 blast furnace (BF) at its Ipatinga mill, located in the southeastern state of Minas Gerais.

It will spend this amount between 2019 and 2022, with most of it - 1.15 billion Reais - being earmarked for 2020 and 2021. The actual work to revamp the blast furnace will begin in mid-2021, the steelmaker said on Monday May 27.

It said its board of directors has approved the investment. Usiminas’ board has also given the go-ahead for a new gas tank to...

Published

Renato Rostás

May 28, 2019

08:41 GMT

São Paulo