ThyssenKrupp gets green light for 2.4-bln-dlr plant in Brazil

0 Comments | AFP, May, 2006

DUESSELDORF, Germany (AFP) — ThyssenKrupp, the German heavy industry giant, said that its supervisory board had given the go-ahead for construction of a 2.4-billion-dollar (1.9-billion-euro) steel plant in Brazil.

"The supervisory board has today approved the project to build a steel mill in Sepetiba in the Brazilian state of Rio de Janeiro," ThyssenKrupp said.

"The plant, which will be operated by CSA Companhia Siderurgica do Atlantico, is scheduled to start production in early 2009."

Chairman Ekkehard Schulz said that the "supply of low-cost, high-quality slabs from Brazil will allow us to harness growth opportunities in our core European market and in the NAFTA region."

© 2006 AFP