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Ceará Steel joins Posco mill by the EC


After six months of negotiations , the South Korean company formalizes intended to be a partner of the venture

The project aims to deploy a steel rolling mill in the State plans , designed by Ceará Steel , won , finally , a partner for its development . This is the South Korean Posco , which yesterday signed the Memorandum of Understanding with the company Ceará , committing thereby producing a study of technical and economic feasibility for the creation of the enterprise . In its first phase will have an investment of $ 800 million . The first phase of the project is expected to produce 700 000 tons of coils per year.

According to the vice president of Ceará Steel , Ian Correa , the signing of the protocol is a further step to overcome the project gain traction . " The study should be ready in the first half of next year , bringing all the details on investments , production, number of employees and location of the project ," he says . " We arrived at an understanding with Posco and turned believe that dating engagement " jokes Corrêa .

When Ceará Steel still seeking investors for the project rolling , one European companies and other U.S. came to be contemplated , as well as another South Korean Dongkuk . Ian Correa , however, said that for now , the partnership will only Posco . " At first , the Steel Ceará will be the majority shareholder , but the percentage of each yet to be defined ," he says .

Land in Caucaia

Contrary to what was previously contemplated , the mill should not be installed within the Export Processing Zone (EPZ ) Pecém . This is because , if it were so , the project would need to allocate 80 % of its production for export , which is not part of the plans of Ceará Steel . " We want to reach the national market," explains Ian Correa .

According to the President of the State Council for Economic Development ( Cede ) , Alexander Pereira , the government has an area of ​​135 hectares in Caucaia and must sell the area for the construction of the project . " The main customer of the mill will be the very Ceará Steel , which will take up half of the production . Therefore , it makes little sense to install in an area with export incentives ," says the secretary.

third steel

With the construction of the mill , Ceará should have a total of three mills in the coming years , given that are already installed on the Steel Company Pecém ( CSP ) and the Latin American Steel ( Silat ) in Caucaia .

Are two phases planned for the construction of the mill . The first must have the total production of around 700,000 tons per year of coils (hot air , cold air and galvanized ) . In the second phase , the total will reach 1 million tons / year of the same coils .

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