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Brazil firm's steel plant in Andhra to be opened in October

IANS 07 Aug 2014, 7:58:45 AM IST
IANS
Hyderabad: Brazilian steel giant Gerdau's plant in Andhra Pradesh will be inaugurated in October this year.

Executives of Gerdau Special Steel yesterday called on Chief Minister N. Chandrababu Naidu here to invite him for the inauguration.

The steel plant has come up in Tadipatri in Anantapur district. It is the first investment of the company in Asia.

The company has invested over $400 million in the plant, which has an installed capacity of 300,000 tonnes. The plant is spread across 846 acres.

Executive director of the company Mark Marcucci, executive vice president and chief financial officer Andra Pires De Oliveira Dias and executive vice president Guilherme C. Gerdau Johannpeter also discussed expansion plans with the chief minister, said an official statement.