The state of Rio de Janeiro, Brazil issued a decree indicating it will help local steelmaker Companhia Siderurgica Nacional (CSN), according to media reports.
Rio de Janeiro’s governor, Wilson Witzel, included the local metal mechanic sector in a regulation that grants fiscal benefits, including reduced state taxes.
CSN operates its Presidente Vargas mill, located in Volta Redonda, Rio de Janeiro state. The mill has a 5.8 million mt/year capacity.
A media report said several steelmaking companies moved to Minas Gerais state due to a lack of fiscal incentives.