The Korean steel giant Posco has inked an agreement to pour BRL1.9 billion to acquire 10% stakes Companhia Siderúrgica de Suape (CSS), a prospective coil mill in Brazil, scheduled to start construction in the first half of 2014. Posco stated that it will be the new strategic partner of CSS by providing technology, equipment, construction and operation of the rolling mill. Meanwhile, the mill is expected to start operations in around May, 2016. In addition, CSS is expected to produce 800,000 tons per year of hot rolled, cold rolled coils and coated steel products in the phase one. Once the whole project is completed, the mill is expected to produce 1 million tons per year of these products.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=67418&division=A9
