Sideruna to ink pig iron contract for its new plant

Brazilian pig iron producer Sideruna has announced plans to secure a buyer by March for the output from its new pig iron plant in Brazil's Mato Grosso do Sul state. Commenting on Sideruna's plans, company president Reinaldo Torres said, “We want to close a deal as soon as possible... we are currently in talks with two groups, both international.” Mr. Torres also added that Sideruna is open to negotiations with other companies, though the company plans to sign just one contract. Located in the city of Campo Grande, the plant, which has a monthly capacity of 10,000 tons, is scheduled to come on stream in February 2007. Moreover, the monthly production capacity of the plant will be increased to 40,000 tons once Sideruna concludes a long-term supply contract.