Pará steelmaker Sinobras gets capacity boost nod
Brazil's Pará state granted steelmaker Sinobras an environmental license to boost capacity of its new rolling mill in Marabá municipality, state news service Agência Pará reported.
The license will allow Sinobras to expand long steel production from the current 300,000t/y to 800,000t/y. The company earmarked about 200mn reais (US$90.2mn) for the expansion.
Currently, Sinobras has about a 3% share of the Brazilian long steel market, which produces around 11Mt/y. Compatriot steelmaker Gerdau is the national leader with 45% of sales, followed by ArcelorMittal (39%), Votorantim (12%) and others (2%).
The steelmaker has invested over US$400mn in its Marabá plant since May 2008. Sinobras' products include billets, rolled steel and pig iron.
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News in: Mining & Metals (Brazil)
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