Brazilian steel and iron ore producer Companhia Siderurgica Nacional (CSN) will invest over BRL 2 billion ($402.44 million) in the modernization of its Presidente Vargas plant and in equipment replacement, according to local media reports. The investment plan will generate about 5,000 new jobs at the plant by 2026.
According to CSN sustainability director Helena Guerra, the company will focus on replacing sintering equipment and coke ovens. Some of the new modern and less-polluting equipment is expected to be installed and commissioned by July this year.
Located in Volta Redonda, Rio de Janeiro, the Presidente Vargas plant has a production capacity of 5.8 million mt per year. It has a coke plant, a sintering plant, a meltshop, continuous casting equipment, along with hot rolling, cold rolling, galvanizing, chromizing and electrolytic tinning lines.