CVRD and ThyssenKrupp apply to BNDES for a loan

CVRD and ThyssenKrupp apply to BNDES for a loan

Brazilian mining giant Companhia Vale do Rio Doce (CVRD) and German steel producer ThyssenKrupp have reportedly applied to Brazil's National Development Bank BNDES for a loan to build a steel plant in Sepetiba in Rio de Janeiro state. Regarding the subject, BNDES officials announced that they received a loan request for a steel plant but did not comment on the applicants' names and the value of the loan. It is estimated that the project is worth $1 billion.