Vale may hike stake in Thyssenkrupp's Brazilian steel plant
04 Jul 2009
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Diversified Brazilian mining giant Vale said ina regulatory filing with Euronext that Thyssenkrupp AG has asked it to consider hiking its minority stake in Thyssenkrupp CSA Siderúrgica do Atlântico Ltda
CSA, a EUR 4.5 billion JV between ThyssenKrupp and Vale, is building an integrated steel slab plant in the Rio de Janeiro area of Brazil.
ThyssenKrupp controls 90 per cent of the venture, while Vale owns the remaining 10 peer cent.
The new facility is set to start production in December.
Vale said the two companies were in discussion on completion project and getting the new plant operational "without further delay, as well as the full utilisation of its assets according to market opportunities".
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