Brazil's CVRD announced on the 16th, has attracted the largest South Korean company Posco steel company as a strategic partner, with CVRD and Dongguk States Steel Corporation common in Brazilian joint venture Payson Iron and Steel Company.
according to Payson's new ownership structure steel, the newly formed Vale accounted for 50% of the company's total shares, 30% Eastern States Steel, POSCO 20%.
CVRD CEO Roget Ageneili said the new partners to join that international investors optimistic about Brazil's iron and steel project,11 noon deadline, \
Payson Iron and Steel Company in December 2009 State of Ceara in northeastern Brazil, to start, the investment amounted to 4 billion U.S. dollars. The first phase is expected to be completed in 2014, with an annual production capacity of 3 million tons steel. Phase II completed its annual production capacity to 6 million tons. Our products are mainly for export.
Payson steel company is now the northeastern part of Brazil's largest private investment projects. Period of project construction and create 15,000 local jobs, production will increase 4,000 direct jobs and 10,000 indirect jobs.
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