Gerdau to invest U.S. $992mln in Brazilian heavy and medium plate project

Published: 22 Oct 2009 00:17:09 PST

October 22 MetalBiz--Brazilian Gerdau will invest 1.7 Real (U.S. $992mln) in rolling heavy and medium plate in Ouro Branco. It is learned that the equipment installation will begin next year and the annual capacity will reach 1mln tons after production. The company is expected to succeed in research the first batch of heavy and medium plate.

Source from the company's statement noted that it also intends to produce billet in Aominas mill in early July, with the annual capacity of 1.5mln tons, which will satisfy Ouro Branco for rolling heavy and medium plate and the remaining may be exported.

Gerdau heavy and medium plate department aims at domestic oil, ship-building and construction industry as well as Latin American market.