Vale may built a 5mln-ton steel plate mill in Southeast Brazil

Published: 27 Aug 2009 22:41:49 PST

August 28 MetalBiz--The world's largest iron ore producer, Vale will sign an initial agreement with Espírito Santo government, to set up a 5mln-ton steel plate mill there, and it is expected the investment will amount to US$3bln.

Vale stated that currently the project is waiting for the environmental licence granted by the government. If the licence can be obtained, the project will be started in 2011 and put into operation in 2014. The project will provide 3,000 direct employees and 15,000 indirect employees.

It is reported that Vale founding steelmill aims to provide market for its own iron ore, which is the forth same project in the Brazil.