Dongkuk Steel to establish Brazilian steel plant

Dongkuk Steel to establish Brazilian steel plant

South Korean steel producer Dongkuk Steel Mill Company disclosed that it has started work on a steel factory in northeastern Brazil. The factory, which is scheduled to be operational in 2009, will produce 1.5 million tons of slabs per year. Dongkuk Steel is the largest investor in the Brazilian factory with a 34 percent stake. The company stated that it has the preferential right to purchase 50 percent of the slabs produced in the factory.