Brazilian steelmaker Companhia Siderurgica Nacional (CSN) will invest BRL 1.5 billion ($386.3 million) to build a new galvanizing rolling mill in São Paulo state, the company said.
CSN CEO Benjamin Steinbruch announced the investment on Thursday in a meeting with São Paulo governor, João Dória. A São Paulo state investment agency will prepare studies to determine a location for the new galvanizing plant, officials said, and the new galvanizing mill will generate 400 direct jobs and 1,000 indirect jobs.
CSN’s galvanizing mill will be part of a metal and steel pole division known as Polo Metal-metalúrgico de Máquinas e Equipamentos. It covers the cities of Campinas, Ribeirao Preto, the greater São Paulo area, São Carlos, São José do Rio Preto, Sorocaba and the Vale do Paraíba.
USD = BRL 3.88 (June 6)