Chief company executives Jorge Gerdau and Andre Gerdau Johannpetter announced Thursday plans to invest $120 million in Peruvian steelmaker Siderurgica del Peru SAA (Siderperu)-Gerdau's Peruvian steelmaking operations-over the next three years according to Brazilian news agency, Andina.
After meeting with Peruvian President Alan Garcia in Lima, Peru the Gerdau executives also discussed plans to study an additional $480 million expansion of Empresa Siderurgica del Peru SA.