Brazilian flats steelmaker Usiminas plans to spend a combined BRL 500 million ($151 million) in Capex in 2018, the company said on Wednesday in a document filing at the country’s securities exchange commission (CVM).
Usiminas has also forecasted its net financial expenses for the ongoing year to also reach BRL 500 million ($151 million).
The new Capex forecast is twice the combined BRL 216 million ($65.4 million) Capex spending the company reported in the full year of 2017.
In 2016, Usiminas spent a combined BRL 225 million ($68.2 million) in Capex.