Brazilian flats producer Usiminas announced plans to invest the equivalent of $712 million in the state of Minas Gerais, where its Ipatinga plant is located, between 2023 and 2026.
Most of the investment will be destined to the refurbishment of the blast furnace number 3 of the Ipatinga plant, $318 million, in addition to expenses incurred during previous years.
In the steel conversion area of Ipatinga, the investments are estimated at $177 million, while $217 million is expected to be invested in the refurbishment of the coke plants number 2 and 3.
According to Alberto Ono, CEO of Usiminas, the investments will allow for operational improvements and environmental benefits, as part of the equipment started operations 23 years ago. He added that the refurbishment of the blast furnace will require 8,000 temporary workers.