Aperam will increase investments in Brazil

Tuesday, 24 May 2022 19:58:48 (GMT+3)   |   Sao Paulo
       

After investing BRL 243 million ($50.2 million) in its Brazilian plant last year, as reported by SteelOrbis, Aperam will invest an additional BRL 588 million ($121.9 million) through 2024 in its Timoteo plant, located in the state of Minas Gerais.

The company said the investment will be used to update the technology of the hot rolling line of the plant, and to increase production at Aperam Bioenergia, which produces the charcoal used as reductant for the production of crude steel in the Timoteo plant.

According to Frederico Ayres Lima, CEO of Aperam South America, as quoted by the newspaper Valor Economico, the investment will allow for the production of flat stainless steel products in different dimensions and improved qualities, to meet the current demand from the clients.

The total crude steel capacity, 900,000 mt per year, will not be increased.

USD = BRL 4.84 (May 24)


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