Brazil’s steel producer Gerdau to invest US$1.1 billion in Minas Gerais state over five years

Resources will be used to modernize, upgrade technology and expand local operations; the company plans to create 6 thousand direct and indirect jobs with the investment

RIO DE JANEIRO, BRAZIL - Porto Alegre-based Gerdau, Latin America's largest long steel producer, revealed on Friday (06) at a press conference in Belo Horizonte an investment plan of R$6 (US$1.1) billion in Minas Gerais, to be applied over five years.

The resources will be used to modernize, upgrade technology and expand local operations. The company expects to generate 6 thousand new direct and indirect jobs with the investments.

The plan includes the modernization of the Ouro Branco, Barão de Cocais, Divinópolis, and Sete Lagoas plants. In Ouro Branco, as already announced, the annual . . .

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