Brazilian integrated steelmaker Gerdau plans to spend a combined BRL 7.07 billion ($1.7 billion) by 2021, the company said. The figure covers maintenance for the company’s Ouro Branco mill, in Minas Gerais state, general maintenance expenses, as well as expansion and technology-related investments.
Gerdau should spend BRL 1.84 billion ($449.3 million) this year, out of which BRL 764 million ($186.5 million) will go toward general maintenance expenses, BRL 441 million ($107.6 million) for its Ouro Branco mill, and an additional BRL 635 million ($155 million) for technology.
Gerdau will invest a combined BRL 2.59 billion ($634.8 million) in 2020, and another BRL 2.63 billion ($644.1 million) in 2021.
USD = BRL 4.09 (November 7)