Brazil's Vale-ThyssenKrupp Mill Joint Venture On Time - Estado
05 Marzo 2009 - 6:31PM
Dow Jones News
CSA, a steel mill joint-venture of Brazilian mining giant
Companhia Vale do Rio Doce's (RIO) and Germany's ThyssenKrupp, is
on schedule for completion in December, the Estado News Agency
reported Thursday.
The information came from CSA's vice-president for contracts,
Rodrigo Tostes, who said the first slab steel would be produced in
December, despite the current economic crisis. By that time Tostes
expects current global economic turbulence "to start being
diluted."
CSA, also known as Companhia Siderurgica do Atlantico, will
produce five million metric tons a year of the slabs, with 40%
destined for the U.S. and 60% to Europe.
Full production is likely to be reached within nine months of
startup, said Tostes.
In August last year, CSA postponed the production date startup
from March to December 2009.
ThyssenKrupp has 90% of CSA stocks and Vale has the other 10%.
The steel mill is budgeted at 4.5 billion euros.
-By John Kolodziejski, Dow Jones Newswires; 55-21-2586-6086;
John.Kolodziejski@dowjones.com