Belgo Mineira to invest $606 million for expansion
Brazilian
longs producer Belgo-Mineira is reportedly planning to invest Reais 1.8 billion ($606 million) over four years to expand its
production capacity.
The company has also invested Reais 200 million ($67.6 million) this year to double the
production capacity of its Piracicaba steel mill in Sao Paulo state to 1 million tons and to modernize its Vitoria mill in Espirito Santo state.
The amount of
investments allocated for 2005 and 2006 is Reais 470 million ($160 million) for each year. For year 2007, an investment of Reais 430 million ($145 million) is planned to be made.
The investment plan has not been approved by the company board yet.