Votorantim to build a new flat steel plant

Votorantim to build a new flat steel plant

Brazilian steel producer Votorantim Metais is reportedly in talks with Rio de Janeiro state officials to establish a flat steel plant with a capacity of 500'000 tons in the state. Sources report that state officials will offer incentives by offsetting the initial tax payment while the plant is under construction. Repayment will be made after plant comes on stream. An investment of $400 million is planned to be made in the plant that will be built in Barra Mansa. The plant will use scrap as a raw material, which is a matter of concern for the state officials since there are other producers in the region using scrap as a raw material.