Algeria-based Cevital has signed a protocol of intentions with the state of Para, in Brazil, to invest in a steel mill plant in the north part of the country, a government news agency said this week.
Cevital has been investing in different business areas, including steelmaking, and the company said it’s interested in participating in a public tender to acquire the rights to explore the concession of the Paraense railroad. The company it could produce the trails that would be used in the railroad at one of its steel mills in Europe.
The company also said it plans to transfer the technology and expertise it has in the steel sector in other countries to Brazil, where it is considering building a steel mill.
Cevital’s interest in building a mill in the state of Para is explained in the potential it sees in Brazil, as Brazil is the world’s largest iron ore exporter. The potential cities that could host the steel mill are strategically located and could facilitate exports, according to media reports.