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Company News, 2005-08-19, 01:18 PM

Green light for continued pursuit of steel mill project in Brazil

The supervisory bodies of ThyssenKrupp have endorsed the continued pursuit of the project to build a steel mill in Brazil. Based on the findings of the feasibility study and having reached agreement on key fundamental areas of the steel mill project, the supervisory boards discussed the project and unanimously reached a positive assessment. Final decisions will be made at their next meetings after clarification of various external factors.

The Brazilian steel mill is to produce 4.4 million metric tons of slabs per year for ThyssenKrupp Stahl AG. A total investment volume of 1.88 billion US Dollar (1.5 billion Euro) is planned for the production facilities in the coastal location of Sepetiba in Rio de Janeiro state as well as for the port and infrastructure. The world?s biggest iron ore producer Companhia Vale do Rio Doce (CVRD) will take a stake of 10 percent in this project.

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