Brazil Companhia Vale do Rio Doce announced that it signed a MoU with South Korea Dongkuk Steel Mill Co on November 20th 2007, for the construction of an integrated steel slab plant in the Industrial District of Pecém in the Brazilian State of Ceará.

The viability study of this project is expected to be completed in coming months. The project encompasses the construction of an integrated steel slab plant, which will use coal, with an initial production capacity of 2.5 million tons per year with the possibility to be expanded to 5 million tons per year. The investment for the first phase of this project is expected to be USD 2 billion.