Venezuela’s Siderurgica del Orinoco (Sidor) could end 2014 with a 1.3 million mt liquid steel production, down 13.3 percent year on year, according to estimates from the country’s steel union Sutiss.
Jose Hernandes, president at Sutiss, said the plant registered decreased production levels since 2008.
The plant has a capacity to produce 4.6 million mt of liquid steel, however, operations have been slowed down in the last few years.
The plant’s capacity was gradually reduced from 76 percent in 2008 to 38 percent in 2013, the executive said.
Beside low production levels, Hernandes said Sidor’s debt increased from $189 million in 2008 to 936 million in 2014.