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Chávez kicks off works on new state steelmaker

Bnamericas Published: Friday, March 06, 2009
Venezuela's President Hugo Chávez has inaugurated construction works at the US$900mn state steelmaker that will be located near a concentrator owned by state iron ore producer Ferrominera Orinoco ( FMO) in Guayana region. Brazilian consortium Andrade-Gutiérrez will build the steelmaker that will have 1.5Mt/y capacity and is scheduled for launch in three years. "The plant will produce 160,000t/y of slabs, 350t/y of plates and 850,000t/y of hot coils," the president said during his inauguration speech. The new steelmaker will consume 1,400t/y of briquettes and 343,000t/y of scrap metal. In February, the government tied together its steel production chain with the formation of state steel and iron company CSV, which will operate under the framework of the basic industries and mining ministry (Mibam). The new corporation will now control state companies FMO, Sidor and Aceros Alba. It will also be in charge of the new steelmaker along with two other social production companies that specialize in the production of seamless tubes, rails for train tracks and metallic structures including housing.

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