Posted on 05 Jul 2022
Simec group, the third-largest long steel producer in Brazil, announced it will invest US$300 million to expand production capacity at its plant in Pindamonhangaba, which was expected to complete by mid-2024.
The investment includes a new electric steel mill and a new rolling mill, with state-of-the-art German technology. The project will double the capacity, from the current 500,000 tons of crude steel (billets) per year to 1 million tons per year. The expansion plan will be for the capacity of straight and rolled rebar and wire rods.
During the construction work, around 1,200 jobs will be created and 450 employees will be hired for the new line operations in Pindamonhangaba.
Source:Yieh
