Home | Press | Events | Eshare
It is learned that Brazil's miner Vale admitted it could revise the construction schedule of its new steel plant. The company's board has officially informed the local government that the project is no longer among its priorities. The new steel plant that would be named as Companhia Siderrgica Ubu (CSU) was planned to produce 5 million tons of slabs from 2014. Vale is still looking for a partner for the project, but it seems difficult to find one because of current economic slowdown coupled with global oversupply of steel. The company originally planned to run CSU with Chinese Baosteel, but the latter one left the joint venture in early 2009 due to environment barrier and the inability to reach an agreement with the state government on the plant's location.