Vale, Dongkuk Steel and Posco will invest a combined $500 million in Brazilian slab producer Companhia Siderurgica do Pecem (CSP), according to information from a South Korean-state owned news agency.
The three companies are shareholders at CSP, and the amount of money each company will invest varies according to their stake in the slab producer. Vale owns 50 percent of CSP and will invest $250 million, while Dongkuk Steel owns a 30 percent stake and will invest $150 million, and Posco, which has a 20 percent stake, will inject another $100 million.
CSP has a 3 million mt/year capacity.