ArcelorMittal signs protocol of intentions to install mill in Southern Brazilian state

ArcelorMittal signs protocol of intentions to install mill in Southern Brazilian state

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ArcelorMittal Gonvarri Brasil, a joint venture between ArcelorMittal Gonvarri Brasil and Gonvarri Steel Services, has signed a protocol of intentions to install a mill in the Southern Brazilian state of Rio Grande do Sul, the local government said this week.

According to the government of Rio Grande do Sul, ArcelorMittal is expected to install a mill in the city of Glorinha. The company plans to invest BRL 52.5 million ($10.1 million) by 2022 to create 100 direct jobs.

In exchange for the construction of the plant, the government would aid ArcelorMittal with an ICSM tax exemption.

ArcelorMittal Gonvarri Brasil is a steel service center with facilities in Araucaria in the state of Paraná and Hortolandia in the state of São Paulo.

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