Grupo Gerdau to expand Cosigua plant
Brazilian longs producer Grupo Gerdau has recently announced that it is planning to expand production at its Cosigua plant and to build a new factory in the Santa Cruz industrial district in west Rio de Janeiro. The company will invest Real 1 billion ($374 million) in the project. The new plant will mostly serve automotive sector. Accordingly the company will sign a letter of intent with the government for the completion of the projects.