Brazilian stainless steel producer Aperam is planning to invest BRL243mn ($42.7mn) to modernize and expand its finished steel production capacity at its Timóteo plant.
The company’s crude steel production will increase slightly, reaching 900,000mt per year, Frederico Ayres Lima, president at Aperam told a media outlet.
Of the total outlay, the company will invest BRL90.6mn to improve its equipment and increase the productivity of its stainless steel plant, it said without disclosing the expansion capacity. About BRL26mn will be invested to improve its non-oriented electrical grain steel (GNO), which will allow the company to produce steel for the electric vehicles industry in Brazil and for international customers, he added.
Moreover, the firm will invest BRL55mn to produce high permeability grain-oriented (HGO) steel, and BRL72mn will be invested in the company’s green steel production area, through its Aperam BioEnergia unit, Ayres noted.
The Timóteo plant has a capacity of 900,000mt slabs per year, and 350,000mt of stainless steel finished products with, its grain-oriented facility producing 60,000mt per year, its non- grain-oriented making 170,000mt per year, and its special carbon steels unit producing 200,000mt per year, according to the company’s data.