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Brazil Pecém Project On Main Track
= Multi-purpose port completed and material handling conveyor belt started operation =
POSCO announced on Aug 23 that the Companhia Siderúrgica do Pecém (CSP) project jointly promoted by South Korean POSCO, Dongkuk Steel and Brazilian Vale has entered its main track. POSCO, with Dongkuk Steel and Vale, held a ceremony on Aug 11 for the completion of a multi-purpose port for the Pecém Industrial and Port Complex (CIPP) and starting operation of the material handling conveyor belt.

This event was hosted by Brazil's Ceará State to announce the main construction of the Steel Mill by the three companies. Brazilian President Dilma Rousseff, Dongkuk Steel Chairman Se-ju Chang, Vale CEO Murilo Ferreira, and POSCO Executive Director Ki-hong Park attended the event.

The 760m long multi-purpose port can anchor two large vessels and has a loading/unloading capacity of 750,000 containers.

President Rousseff said, "I expect the steel mill constructed within the Pecém Industrial and Port Complex to become a bridgehead for the development of Brazil's northeast region. The federal government of Brazil will provide its full support until the steel mill starts operation."

Chairman Se-ju Chang of Dongkuk Steel noted his determination saying, "Based on the history Dongkuk Steel and POSCO wrote in Korea's steel industry, we will complete the most competitive steel mill in 2015."

POSCO Executive Director Ki-hong Park also displayed his will saying, "CSP is the most ideal collaboration model between Vale, the world's largest iron ore provider, Dongkuk steel, one of the world's biggest purchasers of steel slabs, and POSCO with the world's leading steel mill construction and operation technology. We will develop CSP to grow as the world's best steel mill based on POSCO's 40 years of experience and technology."

Through CSP, the joint venture between POSCO, Dongkuk Steel and Vale, an annual 3 million-ton scale furnace will be constructed on 990 hectares of land within the Pecém Industrial and Port Complex by 2015. The ground work is currently being laid while facility construction will also start soon. This steel mill is the first in which everything from materials to finished steel products are absorbed by its shareholder companies, with Vale providing iron ores, technology support for construction provided by POSCO, and Dongkuk Steel in charge of purchasing slabs which are the final products. POSCO, Dongkuk Steel and Vale hold 20%, 30% and 50% of the shares respectively.
last modified : Mon 29 Aug, 2011 [11:07]
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