São Paulo – Brazilian mining company Vale is among the main sponsors of the match between the national teams of Brazil and Oman, which is taking place in Muscat, the capital of the Arab country. The values invested were not disclosed by the company, but some Brazilian sites have been mentioning a share for the Brazilian team of between US$ 2 million and US$ 3.5 million.
Vale has been operating in Oman since 2007 and is developing a project for a pellet plant with a capacity for production of 9 million tonnes of pellets a year through direct reduction and a distribution centre with a capacity for 40 million tonnes per annum at Sohar port, in Oman. The cost of the project is estimated at US$ 1.356 billion and the start of operations is scheduled for the second half of 2010.
The company has also not informed whether it plans to expand its operations to other countries in the Middle East, but according to a company spokesperson, Vale presence in Oman is part of the company’s strategy to better supply clients in the Middle East, North Africa and India. “The strategic location of the project at Sohar port offers several logistics advantages to supplying the local smelting market with pellets for direct reduction,” said a spokesperson for Vale.
*Translated by Mark Ament
