Arcelor, CVRD and Baosteel to establish a mill in Brazil
According to the recent news in the market, Brazilian mill Companhia
Vale do Rio Doce (CVRD), European mill Arcelor and Chinese mill
Baosteel reached an agreement to establish a new steel mill in
Brazil. The project is expected to cost around $1.5 billion. The new mill will have a
slab production capacity of 3.5-4 million tons per annum.
Establishment of an integrated ironwork with
Baosteel and CVRD was present among the worldwide integration plans of Arcelor, as previously reported by SteelOrbis.
The new mill will be established near CVRD's Carajas
iron ore mine in Northeastern
Brazil. The feasibility study of the mill is scheduled to be completed in the second quarter of 2004 and the mill is planned to start operations at the end of 2007 or early 2008.