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The Steel Industry Plays A Fundamental Role In The Economy, Impacting Diverse Productive Sectors. To Strengthen This Market, The Government Announced A Billion-Dollar Investment, Increasing Steel Production In Brazil.
The federal government announced an investment of R$ 1.5 billion to expand steel production in Brazil.
President Luiz Inácio Lula da Silva and the Minister of Mining and Energy, Alexandre Silveira, participated in the inauguration of a new hot coil rolling mill of the company Gerdau Brasil, in Ouro Branco, Minas Gerais, on Tuesday, the 11th.
The government’s project aims to create over 1,000 direct and indirect jobs, with an increase of 250,000 tons of steel annually, raising total production to 1.1 million tons per year.
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Industrial Expansion And Economic Impact
Minister Alexandre Silveira highlighted the importance of the initiative for different sectors of the economy. “It will help the automotive sector, construction, and the production of oil and natural gas, stimulating a complex economic chain that spreads and generates jobs throughout Brazil. We are capable of producing one of the best quality steels in the world, with the lowest environmental impact,” he stated.
Brazil ranks 9th in the world steel production ranking, representing 1.8% of global production. In Latin America, the country leads with 60% of the total.
Gerdau Brasil, responsible for the new investment, paid about R$ 230 million in the last ten years in Financial Compensation for Mineral Exploration (Cfem), a tax levied on mining companies that extract natural resources.
In February, the federal government announced infrastructure works in the region, including the duplication of BR-381, connecting Governador Valadares to Belo Horizonte, and improvements on BR-040, which connects Cristalina (GO) to the state capital.
Participation Of Authorities
The inauguration ceremony brought together several authorities, including President Lula and the First Lady, Janja Lula da Silva.
Also present were the Vice President and Minister of Development, Industry, Commerce, and Services (MDIC), Geraldo Alckmin, the CEO of Gerdau, Gustavo Werneck, and Ministers Rui Costa (Civil House), Fernando Haddad (Finance), Luiz Marinho (Labor and Employment), and Macaé Evaristo (Human Rights and Citizenship), in addition to representatives of the state government.
The new equipment from Gerdau will allow for the expansion of hot coil production, a type of steel essential for various industrial sectors.
Coil steel is used in the manufacture of sheets for metal structures, automotive parts, pipes, industrial machinery, and energy equipment.
With the new investment, Brazil strengthens its position in the steel market and expands its production capacity.
With information from MME.
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