CVRD and ThyssenKrupp to sign letter of intent
Brazilian mining giant Companhia
Vale do Rio Doce (CVRD) and German steel producer ThyssenKrupp Stahl are expected to sign a letter of intent with
Brazil's Rio de Janeiro state government next week to establish a steel plant near the port of Sepetiba.
The state government will give taxation incentives for the
construction of the new steel plant.
The plant, which will have an annual
production capacity of 4.4 million tons, will reportedly cost between $1.5 billion and $2.5 billion.