Business Services Industry
Itabrasco to invest R$18mil in Espirito Santo.
South American Business Information, October, 2002
Brazil, Oct 28, 2002 (Gazeta Mercantil/SABI via COMTEX)
The iron pellet producer Companhia Italo-Brasiliera de Pelotizacao, Itabrasco, a 50/50 basis joint venture between the Brazilian CVRD (Companhia Vale do Rio Doce) and the Italian Ilva, will invest US$18mil to expand its Tubarao-based plant (Espirito Santo state) until 2005. The Italian group Riva, one of the ten largest steel producers, with 15mil mtpy, controls Ilva. Itabrasco was the first iron pellet joint venture created by CVRD in 1977. Its current production of 3.3mil mtpy is earmarked to Ilva (2.7mil mtpy) and CVRD (600,000 mtpy). The Turabao-based plant will be expanded from 140,000 m tons to 270,000 m tons. The company is also investing US$2.3mil in the erection of a new limestone grinding plant,...
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