CSN plans to increase Capex spending in 2021

Tuesday, 15 December 2020 09:27:17 (GMT+3)   |   Sao Paulo
       

Brazilian steelmaker Companhia Siderurgica Nacional (CSN) plans to increase its Capex spending in 2021 by 75 percent, as compared to 2020. CSN said it should spend BRL 1.6 billion ($312.4 million) this year, and increase the amount to BRL 2.8 billion ($547.5 million) in 2021.

As for its iron ore business, the company plans to spend BRL 14 billion ($2.7 billion) in expansion works by 2025. In the steelmaking business, expansion investments are forecasted at BRL 6.1 billion ($1.1 billion) also by 2025.

A media report by MoneyTimes said CSN’s presentation to investors was less optimistic than usual, noting that CSN often makes optimistic projections that do not always materialize.

CSN said it expects steel sales volumes in 2021 to reach 5.2 million mt.

USD = BRL 5.12 (December 15)


Similar articles

Brazil’s CSN to modernize Presidente Vargas plant

05 Feb | Steel News

CEO orders complete revamping of CSN steel plant in Brazil

31 Jul | Steel News

CSN receives $1.4 billion loan to expand mining activity

03 Apr | Steel News

Brazil’s CSN investing in Israeli hydrogen startup

26 Jan | Steel News

CSN and Minas Gerais state sign protocol of intentions for $5.4 billion investment

20 Oct | Steel News

CSN Mineração expects to raise $196.8 million to fund terminal expansion

16 Jul | Steel News

CSN invests in Singapore-based graphene startup

02 Jul | Steel News

CSN investing $386.3 million in a new galvanizing rolling mill

06 Jun | Steel News

CSN reportedly seeking Italian investment for railway

06 Apr | Steel News

Primetals Technologies to modernize three slab concasters for CSN

01 Jun | Steel News