Brazilian Steel Giant Signs Investment Commitment of R$219.8 Million for Minas Gerais State

RIO DE JANEIRO, BRAZIL – Usiminas signed with the government of the state of Minas Gerais on Wednesday, September18th, an investment commitment of R$219.8 (US$55) million.

The document, a protocol of intent, was signed jointly with the subsidiaries Mineração Usiminas S.A. (MUSA) and Unigal for steel and mining activities.

The forecast is to generate 330 direct jobs in 2019, preferably recruited in municipalities where investments will be made, as the company explained in a statement to the market on Wednesday night.

The note also stresses that the amount does not change the projections for investments of Usiminas this year.

Usiminas is one of the largest steel producers in the Americas, with major steel mills in Brazil with a total capacity of 9.5 million metric tons of steel per year. The company accounts for 28 percent of total steel output in Brazil.

The company also operates in the logistics sector through a stake in logistic company MRS Logística. The Usiminas industrial complex is the largest plain steel complex in Latin America and one of the top 20 in the whole world.

The company was one of the largest shareholders in the Argentine company Ternium, accounting for 14.2 percent of total capital.

(Source: Estadão)

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