The state of Rio Grande do Sul, in the southern region of Brazil, is expected to have a second tinplate plant, according to local government.
According to the government of Rio Grande do Sul, South Korean companies Shin-Hwa Silup and J. K. Shin, along with local investors, will form a JV to establish Nenzo Industrial.
The company is yet to choose a location for its planned mill. Government officials said expected investments for the plant reach between $70 and $80 million.
The plant should have capacity to produce 150,000 mt/year, with imported raw material from South Korea. Building of the plant should last two years, the government said.
Darci Giovanella, one of the Brazilian investors involved in the JV, said it choose the state of Rio Grande do Sul as it is strategically located near the Mercosur region.
Giovanella said the company’s location is yet to be defined, but it should be located near a port to facilitate logistics.