http://www.gwm-tv.com - A new steel plant is to be built in the Brazilian state of Ceara after Korean steel producer, POSCO, signed a deal with Brazil's Vale S.A. and the Dongkuk Steel Mill.
The deal will see Vale hold a 50 per cent stake, Posco hold 30 per cent and Dongkuk hold the remaining 20 per cent.
Construction is expected to begin early in 2011 and its initial production capacity will see it produce three million tons of steel slabs annually. A future second phase aims to expand this to six million tons annually.
