Usiminas’ Capex spending to reach $279.3 million in 2021

Tuesday, 16 February 2021 00:29:54 (GMT+3)   |   Sao Paulo

Brazilian flats steelmaker Usiminas said it expects to reach a Capex spending of BRL 1.5 billion ($279.3 million) in 2021, adding that most of its Capex spending will go towards its steelmaking business.

Out of the BRL 1.5 billion ($279.3 million) figure, BRL 1.2 billion ($223.4 million) will support its steelmaking business. Other investments include BRL 600 million ($111.7 million) to repair the company’s No. 3 blast furnace, and another BRL 600 million ($111.7 million) for the flat producer’s sustaining, health, safety and environment projects.

Only BRL 250 million ($46.5 million) will back Usiminas’ iron ore business. Another BRL 50 million ($9.3 million) will be using at the company’s transforming business unit.

USD = BRL 5.37 (February 16)

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