Gerdau to invest $1.1 billion for capacity expansion

Gerdau to invest $1.1 billion for capacity expansion

Brazilian steel producer Gerdau SA is reportedly planning to invest $1.1 billion to increase capacity of one of its plants. The capacity of the plant in the central Minas Gerais state of Brazil will be increased to 4.5 million tons from the current 3 million tons. The investment is part of a joint venture with Chinese partners. In line with the deal, Chinese partners will finance $236 million of the total investment.