Brazilian steel group announces investment to supply Chinese market

摘要

Brazilian group Gerdau, the largest producer of long steel on the American continent, said Wednesday it would invest in expanding its international markets, namely China, Company officials said. The USdollars1.5 billion investment will make it possible to increase the group>s production from the current 19 million tons to 20.5 million tons of steel per year. The increase in production will be carried out through subsidiary Acominas. in the state of Minas Gerais in southeastern Brazil, which is responsible for the group>s exports to China. A statement from Gerdau said that world demand for steel would continue to rise, mainly due to Chinese consumption.