Gerdau to build Real 750 million steel mill

Gerdau to build Real 750 million steel mill

Latin America's largest steel producer Gerdau SA is reportedly planning to build a steel mill near Sao Paulo with an investment of Real 750 million ($262 million). The steel mill will be built to meet structural steel demand in Brazil. It is reported that the steel mill, which will have an annual production capacity of 1.3 million tons, will be operational in May 2005.