Brazilian steelmaker expected to resume slab mill project
Usiminas, Brazil's largest producer of flat steel, announced Tuesday it will boost investment by approximately 33 percent in 2010 to ramp up output. The company plans to spend 3.2 billion reais (US$1.7 billion) in expansion projects in 2010, compared with 2.4 billion reais (US$1.3 billion) during 2009. As a result, Usiminas is expected to resume the Santana do Paraiso slab mill project, which had been suspended due to last year's global economic downturn. The mill is expected to total costs of US$6.1 billion, and have a capacity of 5 million mt. The viability of the project is expected to be assessed before June.
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