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 Thirty Years of Working With Seel
 Korea's Posco confirms 20% stake in Brazilian slab project
 Last Update:     25/05/2011 12:48:17
 The board of Korea’s Posco has decided to keep its original planned 20% share in Brazilian slab project Companhia Siderúrgica do Pecém (CSP) - a joint venture with Vale and Dongkuk - rather than increase its participation to 35%.
without disclosing the total investment amount in CSP, the Posco decision came after it pledged to spend US$1.8bn on new business growth, mergers and acquisitions this year. The expenditure is part of a plan to seek overseas assets and diversify operations to improve efficiency.
According to an April article published by Reuters, steelmakers Dongkuk and Posco can exercise a stake acquisition option, enabling both to increase their current interests in the jv to 35% each - together becoming majority shareholders.
As reported, Vale denied rumors that it plans to reduce its stake in the joint venture to 30%. The company says it will sign a contract in June to make Posco’s participation official. Thus, Vale will keep 50% control, while Dongkuk will hold 30% and Posco 20%
CSP received its installation license in March, earthmoving is slated to begin in June, and construction in February 2012. According to a Vale spokesperson, the construction to be conducted by Posco Engineering and Construction might be concluded in December 2014. Moreover, he says the 3m tonnes/year slab mill project won't have a rolling mill installed for at least 10 years. "There are no plans for a rolling mill, but in the future, it can happen," says the executive.
Source: SBB

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Algeria - ArcelorMittal continues talks to increase Algerian capacity
World  - World Steel sees iron ore surplus growing up to 2017
Russia - Russian firm plans to build billet & rebar mill by 2015-16
Turkey - Turkish billet and slab output down in Jan-Feb
Russia - Russia's Severstal to expand CR product capacities
CIS - ArcelorMittal expects 4.2% annual growth until 2018 in CIS
Russia - Russia's Severstal to expand CR product capacities
Saudi Arabia - Rajhi Steel mulls new billet plant
Saudi Arabia - Qatar Steel enters DRI supply agreement with Saudi mill
Russia - New capacity seen capping Russia rebar price

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Brazil - Korea's Posco confirms 20% stake in Brazilian slab project
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Steel Industry
Algeria - ArcelorMittal continues talks to increase Algerian capacity
World  - World Steel sees iron ore surplus growing up to 2017
Russia - Russian firm plans to build billet & rebar mill by 2015-16
Turkey - Turkish billet and slab output down in Jan-Feb
Russia - Russia's Severstal to expand CR product capacities
CIS - ArcelorMittal expects 4.2% annual growth until 2018 in CIS
Russia - Russia's Severstal to expand CR product capacities
Saudi Arabia - Rajhi Steel mulls new billet plant
Saudi Arabia - Qatar Steel enters DRI supply agreement with Saudi mill
Russia - New capacity seen capping Russia rebar price
 

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