Belgo Mineira initiates production at its new plant
Brazilian long steel maker Belgo Mineira initiates production at its new steel screen and truss mill in Sao Paulo. The plant has an annual production capacity of 60'000 tons destined mainly for the Sao Paulos local construction market. Belgo Mineria invested Reals 30 million (approx.$10 million) to its new mill and forecasts annual sales of Reals 110 million from the plant. This plant is Belgo Mineria's fifth plant in Sao Paulo. At its Piracicaba mill, in the same state, the company is going to increase the annual capacity of its rebars to 1 million tons in the first quarter of 2004 and this will cost $70 million.