Agência Brasil*
Rio de Janeiro – The Brazilian Development Bank (BNDES) has approved the concession of a line of credit of US$ 420 million for the technological modernization and environmental protection at two mills belonging to the Usiminas ironworks group.
The credit, to be granted over the next five yeas, is part of a special financing line to make base industry more dynamic through the implementation of infrastructure projects.
The funds will be invested in Usinas Siderúrgicas de Minas Gerais (Usiminas), US$ 190 million, and in Companhia Siderúrgica Paulista (Cosipa), US$ 230 million.
This is the second loan approved by the BNDES in the same area. The first was to Gerdal Group, and was also of US$ 420 million.
*Translated by Mark Ament
