Usiminas investing $307.1 million to repair blast furnace

Tuesday, 28 May 2019 23:06:37 (GMT+3)   |   Sao Paulo
       

Brazilian flats steelmaker Usiminas will invest BRL 1.23 billion ($307.1 million) to repair its No. 3 blast furnace at its Ipatinga mill, located in the city of same name in the state of Minas Gerais, the company said this week.

Usiminas said the planned investment will be completed by 2022, out of which BRL 1.14 billion ($285.4 million) will be spent between 2020 and 2021. The steelmaker said the combined BRL 1.23 billion ($307.1 million) investment covers the acquisition of new equipment and services. The company’s No. 3 blast furnace will continue operating by until mid-2021, when the repair works will take place.

Additionally, Usiminas said its board also approved the construction of a new gas unit at its Ipatinga mill, following a blast on August 10, 2018, as previously reported by SteelOrbis.

The construction of the new gas unit in the Ipatinga mill will cost BRL 143.9 million ($38.8 million). The amount will be spent gradually between 2019, 2020 and 2021. The new gas unit will have a 150,000-cubic meter capacity and will supply the mill’s steelworks and blast furnaces.

USD = BRL 4.02 (May 28)


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