German steelmaker ThyssenKrupp AG has increased the planned output capacity of the steel mill project in
Brazil's Rio de Janeiro state thanks to increasing steel demand.
“With global steel demand continuing to grow strongly, and the company's own requirements for its growth strategy increasing, the capacity of the Brazilian steel mill has been raised from the previously planned level of 4.4 million metric tons to 5 million metric tons” ThyssenKrupp said.
ThyssenKrupp's supervisory board approved a $2.4 billion investment budget for the project, which will be operated by Companhia Siderurgica do Atlantico (CSA).