Ferrobahia to sell 30% of its pig iron project
BN americas quoted Mr Geraldo Basques president of Brazilian pig iron producer Ferrobahia as saying that it has plans to sell 30% of its project to be installed in Bahia state to a foreign group.
Mr Basques said that "We plan to make the official announcement this week and the deal would be inked with a Canadian investment group, which will provide structure for our growth. If we secure financing for the project, we will start with 200,000 tonnes per year."
The new pig iron plant, which includes two blast furnaces in addition to two thermoelectric plants, is due to start operations in 2008 with a capacity of some 200,000 tonnes per year destined for export. Investment in the facility is due to reach USD44 million.
Ferrobahia will be the first pig iron producing plant in Bahia.
« Back
|