Brazilian flats steelmaker Usiminas plans to increase investments next year by 25 percent, the company said this week.
Usiminas said it expects to invest BRL 1 billion ($244 million) in 2020 and 2021, according to a document filing. This year, Usiminas reduced investments by 20 percent, from BRL 1 billion ($244 million) to BRL 800 million ($195.1 million).
The company also listed several projects by the Brazilian government that might drive increased steel demand, including airport, railway and road concessions, as well as port privatizations.