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Friday, December 16, 2011

POSCO E&C to sign $4.3 bln deal for steel mill in Brazil

Friday December16, 2011

SEOUL Dec 16 (Reuters) - POSCO Engineering & Construction said on Friday it had won an order to build a $4.3 billion integrated steel mill in Brazil from a joint venture that includes Brazilian miner Vale.
The deal will be signed in Brazil on Friday, the South Korean builder said in a statement.

The unlisted affiliate of POSCO said it planned to build the plant with an annual production capcity of 3 million tonnes, in Pecem in Brazil's northeastern state of Ceara.The joint venture, Companhia Siderurgica do Pecem (CSP), also includes South Korean steelmakers Dongkuk Steel and POSCO, which hold a combined 50 percent stake.

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