Russian Steel Factory in Brazil Will Create 8,000 Jobs

The Russian groups TMK and Commetpron will invest US$ 1.8 billion in the first phase of the construction of a flat steel metallurgy plant, in the industrial and port complex of Suape, in the metropolitan region of Recife.

This first phase is expected to be finished by 2006. The plant will have a production capacity of three million tons of steel per year.


The protocol of intent was signed Wednesday, May 25, by the companies’ directors, Sergey Vilkin and Klachkov Aleksandr, the President of the Brazil-Russia Chamber of Commerce, Antônio Carlos Rosset, and the state Secretary of Economic Development and Tourism, Alexandre Valença, at the headquarters of the Pernambuco Economic Development Agency (ADDiper).


Valença mentioned that several factors contributed for attracting the investment, which will generate approximately eight thousand direct jobs in 2010, when the plant will be totally concluded.


“Their opinion is that they found here everything they were looking for: infrastructure, geographic location in relation to Europe and the United States, tradition in the metallurgy sector, in addition to fine-tuned thoughts between the government and entrepreneurs,” he emphasized.


Recife is the capital of the Brazilian northern state of Pernambuco.


Berezovsky


The news agency Interfax informed that Russian businessman Boris Berezovsky, who is a political refugee in Great Britain, is also interested in doing business in Brazil.


He denied, however, having any interest in financing one of Brazil’s most popular soccer teams, the Corinthians, from São Paulo.


“Business in Brazil does interest me, but football as a business doesn’t. The club’s management asked me to buy this team. But I’m not going to do this,” he said.


ABr

Tags:

You May Also Like

Brazil’s TAM Sells US$ 457 Million in Bonds to Finance Expansion

Brazil’s largest airline company, TAM, in a push to finance the expansion of its ...

Well, I’ll Be Damned! The Drummer Was Right After All!

Never print anything in haste, or in anger, I always say. Well, maybe the ...

India Chooses Brazil as Theme at Trade Fair

Brazil is the country-theme of this year’s India International Trade Fair (IITF 2004), which ...

Brazil’s Foreign Trade Tops US$ 200 Billion for First Time

Brazil trade relations with other countries exceeded, for the first time, US$ 200 billion ...

Close to 3,000 Political Candidates Challenged in Court in Brazil

This is not an official number, but it’s been reported that in Brazil there ...

Lula repeats Getúlio Vargas and dirties hand with petroleum

Lula Drenches Hand in Petroleum: Brazil Produces All the Oil It Needs

Brazil’s president declared the country independent of the need for foreign oil as he ...

Brazil: Punishing Thieves and Public

Public works that are needed by the population cannot stop every time an irregularity ...

Every 15 Seconds a Brazilian Woman Suffers Violence

Approximately 40,000 Brazilian women from all over the country gathered in  São Paulo on ...

Chavez Accuses US of Barring Him from Buying Brazilian Planes

President Hugo Chavez said Tuesday that Venezuela would consider buying Russian-built MiG warplanes if ...

Brazil Is World’s 6th Biggest in IT, But 73% of Its Software Comes from Abroad

A survey by the Brazilian software association (Abas) reports that Brazil’s information technology (IT) ...