Easteel International Trading Group want to create in Brazil steel plant
5 June 2019
Easteel International Trading Group is a Chinese investment company. It is engaged in financing projects in the framework of a certain concept. It is called the «One belt, one road». The company managed to conclude a new agreement. The second side was the administration of the Brazilian state of Bahia. The essence of the agreement is to develop a project to build a new facility. We are talking about a steel mill. It is planned to be built in Camaçari, which is part of the agglomeration Salvador.
It is planned that the capacity of the future enterprise will make 8 million tons of steel. This refers to a year. It will be used for the production of sheet metal. However, while this is only a preliminary assessment. Construction work may start in 2022. First of all, the company will produce 2 million tons of hot rolled coils. Also it will produce 1 million tons of cold-rolled electrical steel. Presumably the first is expected to be launched in 2025.
Steel mill is not the only company that plans to build in Bahia. The Chinese company also offered to build a gas power plant. Its installed capacity will reach 1.3 GW. In addition, the proposed construction of the cement plant. Its production capacity may reach 5 million tons per year. Its raw materials can include slags from the metallurgical plant. Of course, all of these enterprises need staff. Therefore it is proposed to create a city for 150 thousand people. For projects Easteel intends to allocate about 20 billion dollars. Funds will be invested gradually until 2025. The company was created in February last year.
