Sao Paulo, Brazil, 24 July – Brazil’s Companhia Vale do Rio Doce (CVRD) and Norsk Hydro of Norway are to build an alumina refinery near Belem in the Brazilian state of Para, the Brazilian company has said.
In a statement Monday, CVRD said the plant would produce around 7.4 million tons of alumina, the main raw material for the manufacture of aluminum.
The first phase of the venture involves investment of US$ 1.5 billion, with CVRD holding an 80 percent stake in the venture to Norsk Hydro’s 20 percent.
Construction of the refinery, situated 5 kilometers from the two companies’ existing Alunorte, the world’s biggest alumina refinery, is scheduled to start mid-2008 and production will begin in the first half of 2011.
CVRD entered a joint venture earlier this month with Baostell, one of China’s biggest steelmakers, to produce steel plate for export from a factory in the Brazilian state of Espirito Santo.
The new steelworks, situated in Anchieta (about 80 kilometers from Vitoria) will take five years to build and create 21,500 jobs, producing 5 million tons of steel per year.
Between 80 and 90 percent of the total investment of US$ 4 billion is being made by the Chinese company. (macauhub)