Sao Paulo, Brazil, 15 April – Brazilian group EBX and China’s Wuhan Iron and Steel (Wisco) Friday signed a partnership agreement for the construction and operation of a steelworks in the Industrial complex of the Superport of Açu, in the north of the Brazilian state of Rio de Janeiro.
EBX will be responsible for 30 percent whilst Wisco will have the remaining 70 percent.
The steelworks will produce 5 million tons of steel products per year once it has been concluded.
The joint venture was announced in November, 2009.
The EBX group, which began by mining gold and iron in the 1980s, has focused its activity on the infrastructure and natural resources sector, and its investments are focused on companies MMX (mining), MPX (energy), , OGX (oil and gas), OSX (naval industry) and LLX (logistics), which operates in the port of Açu. (macauhub)