Brazilian flats steelmaker Usiminas plans to resume its No. 2 blast furnace at its Ipatinga mill, located in the city of same name in Minas Gerais state, in June 2021, the company said late Thursday.
The company said its board approved an estimated Capex spending of BRL 67 million ($13.2 million) to restart the equipment.
Additionally, the company’s board also approved the company to sell a real estate property it owns for BRL 130 million ($25.7 million). The real estate hosts a foundation established by Usiminas in 1969. The company is yet to announce the foundation’s new office.