A Brazilian steel giant Vale and two South Korean joint venture partners revealed the investment plan for the construction of Latin America’s largest steel plant in the port area Pecém, Ceará.
The first phase of the project is expected to be completed by September, 2015 at an investment of approximately US$4.4 billion.
Up until the completion of the steel plant, CompanhiaSiderúrgicaPecém (CSP), it is expected to create 15,000 direct and 8,000 indirect jobs in the state of Ceará.
CSP is expected to produce 3 million tons of steel plates annually when production starts in September, 2015, which is enough to build more than 4 million cars.
Up until the completion of the steel plant, CompanhiaSiderúrgicaPecém (CSP), it is expected to create 15,000 direct and 8,000 indirect jobs in the state of Ceará.
CSP is expected to produce 3 million tons of steel plates annually when production starts in September, 2015, which is enough to build more than 4 million cars.
Construction of the second phase will be initiated in 2017 and, according to forecasts, production should double by completion.