CSN To Build Steel Mill in São Paulo and Create 400 Jobs

Announcement Made Today (06/06) By The Company President, Accompanied By The Governor Of São Paulo, In A Meeting At The Bandeirantes Palace

The state of São Paulo will gain another plant. The president and main shareholder of Companhia Siderúrgica Nacional (CSN), Benjamin Steinbruch, just announced, this morning (06/06), the construction of a galvanized steel rolling mill in the State of São Paulo.
The announcement was made during a meeting attended by, in addition to the president of CSN, the governor of the state of São Paulo, João Dória, the vice-governor Rodrigo Garcia, the Secretary of Finance, Henrique Meirelles, and other state authorities.

CSN will invest R$ 1.5 billion in the plant, which will have the capacity to produce 350,000 tons of rolled steel per year and will primarily serve the automotive and white goods markets (refrigerators, freezers, stoves, and washing machines).
The installation of the new rolling mill in the state of São Paulo is due to its proximity to the country’s automotive industry and also to the metal-metalworking hub being developed in the State as already announced here on Click Petróleo e Gás.

The project will create 400 new jobs in this construction phase, and the president of CSN stated in the meeting with the governor of São Paulo that the municipality where the rolling mill will be located is not yet defined but should be in the Paraíba Valley.

CSN Investments

CSN’s expectation is to have this new rolling mill operational within three years, but according to the company president, there is a plan to invest R$ 10 billion over four years.
This investment plan should be made without hindering the company’s financial leverage, which currently has net debt of over R$ 25 billion.

Good news for the residents of Volta Redonda, a city in the southern region of the state of Rio de Janeiro, is that CSN also plans investments there and in Minas Gerais.
According to Steinbruch, the company plans investments in the expansion of mining in Minas Gerais and steel production in Volta Redonda (RJ).

See Also! One-Third Of The Revenue From This Year’s Oil Auctions Should Go To States And Municipalities!