Steel Plant Hub of Pecém CSP will receive US $ 500 million over the next three years

The plan was thought by the majority shareholders after the expenses and the exchange variation exceeded the profit obtained by the company last year

by REDAÇÃO O POVO ONLINE

FORTALEZA, CE, BRASIL, 18-05-2016: Visit to the Free Trade Zone (FTZ) Ceará. AT THE PHOTO - Port of Pecém. (Photo: Evilázio Bezerra / O POVO) (Photo: T)

Steel Plant Hub of Pecém (Companhia Siderúrgica do Pecém - CSP) is expected to receive a contribution of US $ 500 million (about R $ 2 billion) from its shareholders in the next three years, according to information from the South Korean news agency Yonhap.

Korean companies Dongkuk Steel and Posco, as well as Brazil's Vale, will invest 30%, 20% and 50%, respectively, according to the shares they held of the steelmaker. Vale, for example, will invest US $ 250 million in investments.

The financing plan was thought by the majority shareholders after the company's expenses and foreign exchange changes to exceed the profit of US $ 164 million. The company, which was established in 2016, has the goal of producing 3 million tons of steel slabs this year.

Link of the Online Article: https://www.opovo.com.br/noticias/fortaleza/2019/05/22/companhia-siderurgica-do-pecem-recebera-investimento-de-u--500-milhoes-nos-proximos-tres-anos.html