A new strategic partner has joined Pecém Steel Company (Companhia Siderúrgica do Pecém, or CSP). Posco – South Korea’s largest steel producer – is joining Vale and Dongkuk in the project, which is being built at the Pecém Industrial and Port Complex (CIPP) in the state of Ceará, Brazil. Vale will now own approximately 50% of CSP, with Dongkuk holding 30% and Posco 20%.
The entry of the new partner demonstrates international investors’ interest in projects in Brazil and supports Vale’s strategy of stimulating steel production in the country.
Posco’s participation is strategic in terms of developing the CSP project, given that the company possesses considerable experience in large steel mills. CSP will be an integrated mill capable of producing 3 million tons of steel slabs for the export market, and this figure may reach 6 million tons in a second phase.
Find out about Vale’s various steel sector projects.