Sidor to cut output by 75% for repairs due to fire damage

Venezuelan steelmaker Sidor will cut production by 75% during the next two months while repairs are made to its Midrex II direct reduction plant following a fire last week, a company employee told BNamericas. "The plant supplies 75% of the raw materials needed by producers of plates and billets, and its stoppage will impact Sidor's output by that much," the worker said. According to the source, the fire at Midrex II caused serious damage to key machinery and control areas at the plant. Currently there are two furnaces still in operation in the plate and billets areas of the plant but the furnaces are expected be shut down during repairs, the employee added. Sidor is controlled by state heavy industry holding CVG and has liquid steel capacity of 4.2Mt/y.