Usiminas Postpones Blast Furnace Revamp to 2023
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Usiminas Postpones Blast Furnace Revamp to 2023

Brazilian steelmaker Usinas Siderurgicas de Minas Gerais has delayed work to renovate its Ipatinga blast furnace for 10 months due to the COVID-19

Brazilian steelmaker Usinas Siderurgicas de Minas Gerais has delayed work to renovate its Ipatinga blast furnace for 10 months due to the COVID-19 pandemic as well as because of the stable operational performance. USIMINAS said “The furnace will continue operating as normal until the work begins in mid-2023. The decision to delay the work does not affect this year's planned investments.”

USIMINAS board also reviewed the amount of money it would spend to reform the equipment. The company said it reduced the investment to BRL 2.09 billion (USD 380 million) due to the appreciated USD over the BRL, and the increased cost of materials and services. Usiminas said it will complete the investment by 2023. The revised investment doesn’t affect the company’s existing Capex spending forecast for 2021

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