Arcelor, CVRD and Baosteel to establish a mill in Brazil

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.