Business Services Industry
CVRD and Baosteel to erect plant in Maranhao.
South American Business Information, February, 2004
Brazil, Feb 3, 2004 (O Estado de Sao Paulo/SABI via COMTEX)
The Brazilian mining company CVRD (Companhia Vale do Rio Doce) and the Chinese Baosteel Shangai aims to partner to erect a steel mill in Maranhao state. Both companies have already started the feasibility studies. The French Arcelor also aims to take part in the project. The company is one of the largest individual shareholders of the Brazilian CST (Companhia Siderurgica Nacional), in which CVRD holds 22.85% of the total capital. Besides CST, CVRD holds stakes in the Brazilian Usiminas (11.46%), in the US California Steel (50%) and in the Argentinean Sidera (4.9%). The project in Maranhao involves the production of 3.5mil m tons of steel in the first stage, a volume that might be expanded to 7.5mil m...
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