BNDES approves BRR 30 million funds for Usipar steel plant

Thursday, 21 Aug 2008

BNamericas reported that Banco Nacional de Desenvolvimento Econômico e Social has approved a BBR 30 million financing to the Usina Siderúrgica do Para steel plant. The funds will go to the implementation of two high furnaces for the production of 500,000 tonnes per year of pig iron using coking coal, as well as the construction of a sintering plant in the state of Para.

BNDES funds are equivalent to 11.9% of the total investment in the project, which amounts to BRR 251.3 million. The furnaces will have an internal volume of 320 cubic meters and capacity for production of 250,000 tonnes per year of pig iron, as the sintering plant will have capacity for production of 900 tonne per year of sinter.