Gerdau announced that it will invest a total of Real 460 million ($226.3 million) to increase its crude steel production capacity by 200,000 tons per year at its Riograndense long steel unit in Sapucaia do Sul, in the state of Rio Grande do Sul in southern Brazil.
The investment will create approximately 400 new direct and indirect jobs.
Operations of the Riograndense plant will be suspended in February. In a statement from the company, it was stated that the investment targets are machinery improvements, modernization of steel mill facilities and "improvement of environmental and safety conditions". Gerdau said the company will resume operations after construction is complete, which is expected to close in early 2023.
Riograndense has a crude steel production capacity of 450,000 tons/year and a finished long product capacity of 495,000 tons/year.
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