Venezuela approves plan to recover Sidor’s output

Monday, 29 August 2016 23:27:49 (GMT+3)   |   Sao Paulo
       

Venezuelan president Nicolas Maduro approved a plan aimed to help state-run steelmaker Sidor recover its steel output. Under the terms of the plan, which is comprised of six different phases, Sidor is expected to reach 4 million mt of steel output between 2016 and 2018.
 
In the first phase, which is already taking place, Sidor was expected to activate a billet melting furnace, restart a company’s pellet line, commence DRI production at Midrex, and restart its rebar and wire rod rolling mills, as previously reported by SteelOrbis.
 
Most of Sidor operations were halted in most of H1 due to electricity issues. Sidor said it produced 45,000 mt of steel in one month, following the restart of those producing lines.
 
At the second phase, Sidor expects to increase its production to 100,000 mt/month.
 
A third stage includes the restart of a melting furnace and three DRI units, which requires a monthly consumption of 569 megawatts, 110 million cubic feet of natural gas and 300,000 of iron.
 
Stages four and five include the reactivation of pellet line A as well as repair works at the company’s Midrex plants.
 
As for the last phase of its plan, Sidor expects to reach full capacity at its six furnaces.

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