September 08, 2008

Usiminas investing in energy business

It is reported that Usiminas started the construction of its second thermoelectric power plant in Ipatinga. The USD 100 million project is to be completed in the second quarter 2008. Objectives of the new thermoelectric plant is increasing power self supply and reduced energy costs.

The new power plant will generate 60 MW, taking Usiminas’ total power generation capacity to 117.6 MW, corresponding to 53% of the company’s power requirement for steel production. It will also minimize environmental impact due to the reutilization of blast furnace, coke oven and converter gases, with the consequent reduction in nitrogen emission into the atmosphere.

This investment is an integral part of the Usiminas System’s Development Plan, which will amount to USD 8.4 billion up to 2015. Another investment made by Usiminas in the energy area is the extension of the contract with Cemig up to 2014. This contract renewal is part of Usiminas strategic plan in the struggle for ensuring its power supply in the future.