Voestalpine to build a new plant in Brazil
Austrian steel mill Voestalpine's Brazilian division and the Minas Gerais state government have recently signed a memorandum of understanding for Voestalpine to establish a new plant and a technological centre in Brazil. With the technological centre, the new plant will produce equipment for the steel industry of the country. The plant, which will meet 38% of the total crude steel capacity of the country, will also serve for other metal producers and various industries throughout the country. In the first phase of the construction, it is expected that, Reals 40 million ($14million) for the plant and Reals 2 million ($700.000) for the technological centre will be invested.