Gerdau investing over $180 million at its specialty steel business in Brazil

Monday, 19 April 2021 20:03:42 (GMT+3)   |   Sao Paulo

Brazilian integrated steelmaker Gerdau will reportedly spend BRL 1 billion ($180.2 million) at its specialty steel business in Brazil between 2021 and 2022, according to media reports.

The company plans to use the resources to expand output capacity. Rubens Pereira, vice-president (VP) of Gerdau’s specialty steel business, said the Charqueadas, Mogin das Cruzes and Pindamonhangaba mills will concentrate most of the investments. The Charqueadas mill is located in the city of same name in Rio Grande do Sul state, while the other two are located in São Paulo state.

Gerdau produced 661,000 mt of specialty steel in Brazil in 2020. It plans to produce 880,000 mt of the product in 2021.

Most Recent Related Articles

ArcelorMittal posts stronger operating income in Brazil in Q2

Tombador Iron makes first iron ore shipment from Brazilian site

Gerdau teams up with Shell to build solar plant to power its steel mills

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

CSN invests in Singapore-based graphene startup