[Ferro-Alloys.com]Gerdau’s CEO André Johannpeter said that the company is in talks with local government about an investment of BRL 460 million to build a new steel plant.

The new steel plant is just aside the current plant in the Rio Grande region, which will increase the annual production capacity in the area from current 450,000 tons to 650,000 tons starting from the second quarter of 2015.

The CEO said that the new steel plant’s target is the construction and metalworking industry, its production line covers all products to provide mainly the local state Rio Grande and the neighbor states.

Besides, the CEO also announced the review of the investment plan of BRL 10.3 billion from 2012 to 201 due to the pressure of the weak global market.

• [Editor:editor]