After ArcelorMittal received antitrust authority approval of the acquisition of Companhia Siderurgica do Pecem (CSP) last week, the news has raised positive expectations from authorities in the State of Ceará, where the plant is located.
Eduardo Neves, president of the export processing zone (ZPE) of the state, was quoted by the local press as saying that he is optimistic about the possible developments of the acquisition, as ArcelorMittal is one of the world’s largest companies, leader in the steel production worldwide, and acquired a modern plant.
In his view, ArcelorMittal will expand the activities of CSP, based on the incentives offered by the ZPE, including an area for expansion and the logistics offered by the port of Pecem. “We can now dream of a rolling plant,” Neves said.
A similar opinion was voiced by Luis Eduardo Barros, VP of the institute of the finance executives (Ibef), who reportedly mentioned that the previous owners of CSP, Vale, Dongkuk and Posco, had different views on the steel business, resulting in difficulties for an expansion or a downstream verticalization of the plant.
Other authorities added that the presence of ArcelorMittal in the state will generate an attraction for different sectors, including the automotive industry.
CSP today is responsible for the largest export revenues in the state of Ceará and ranks second in the volume of slabs exported from Brazil in 2022, with 1.61 million mt.