November 22, 2008

Usiminas to start Rio port construction within a month

Mr Marco Antonio Castelo Branco president of Brazilian steelmaker Usiminas announced that the company will begin construction of a port terminal at Sepetiba bay in Rio de Janeiro state within a month.

Mr Branco said that the company plans to use the port to export part of the iron ore produced in deposits it acquired in February by taking over mining company J Mendes.

The port will also be used to export products from steelmaker Cosipa, which belongs to the Usiminas group.

According to Mr Castelo Branco, the contract to carry out port construction has already been signed but the start of works depends on a court decision because the 850,000 square meters plot was purchased for below minimum price.