It is learned that Brazil's Vale and China's Baosteel agreed to suspend their joint venture mill at Brazil due to the global crisis. In the company note of Vale said the global economic crisis affected steel supply chain very badly, so the company have make change of the original project. The new joint venture CSV is designed to produce flat products by 5 million tons per year and could generate 3,000 new jobs, which costs around US$5.5 billion. However, the Brazilian company said they keep seeking new opportunity to build up new steel mills at Brazil.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67337&division=A9
