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ThyssenKrupp board backs construction of steel mill in Brazil
0 Comments | AFP, August, 2005
BERLIN (AFP) — The supervisory board at German steel producer ThyssenKrupp has backed the construction of a 1.5-billion-euro (1.8-billion-dollar) steel plant in Brazil.
The planned factory, located in Sepetiba, near Rio de Janeiro, would have an annual capacity of 4.4 million tonnes and would be 10 percent controlled by the Brazilian firm Companhia Vale di Rio Doce.
ThyssenKrupp has said operations could begin in 2008 in Brazil, where production costs are lower than in Germany.
© 2005 AFP
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