The company will increase its capacity for hot-rolled coil (HRC) by 250,000 tonnes per year, to 1.1 million tpy, and structural beams capacity by 500,000 tpy, also to 1.1 million tpy, both to start in 2024. Currently at Ouro Branco, Gerdau makes mainly wire rod and heavy steel plate.
“Such investment in HRC and beams shows our confidence in long-term growth in Brazil,” Werneck said.
These will join other shorter-term initiatives intended to increase output in Brazil amid steadily growing demand.
In July, Gerdau restarted 360,000 tpy...