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Latest News in Peru / Archive
Business | 2 September, 2008 [ 11:01 ]
Brazil’s largest steelmaker Gerdau announced Monday an investment of 1.4 billion dollars to expand the production capacity of its Siderperú plant in Peru.
With this investment, annual output at Siderperu should rise to 1.5 million tons in 2011 and to three million tons in 2013, stated the company’s CEO, Andre Gerdau, after meeting with Peruvian president Alan García.
The expansion also will enable Siderperu to meet Peru's entire domestic steel demand. Today, Peru must import half the steel it needs, Johannpeter said.
The additional steel exports could eventually help close Peru's trade deficit with Brazil, said Jorge d'Escragnolle Taunay, Brazil's ambassador in Lima.
Trade between the neighboring nations reached US$2.2 billion last year, he said.
With annual sales of approximately 360,000 metric tons of finished products and 2000 employees, Siderperú is Peru’s largest steel company.
Its factory is located in the city of Chimbote, to the north of Lima.
News source: ANDINA
Peru: Brazil’s Gerdau to invest $1.4 billion in Siderperú
Brazil’s largest steelmaker Gerdau announced Monday an investment of 1.4 billion dollars to expand the production capacity of its Siderperú plant in Peru.With this investment, annual output at Siderperu should rise to 1.5 million tons in 2011 and to three million tons in 2013, stated the company’s CEO, Andre Gerdau, after meeting with Peruvian president Alan García.
The expansion also will enable Siderperu to meet Peru's entire domestic steel demand. Today, Peru must import half the steel it needs, Johannpeter said.
The additional steel exports could eventually help close Peru's trade deficit with Brazil, said Jorge d'Escragnolle Taunay, Brazil's ambassador in Lima.
Trade between the neighboring nations reached US$2.2 billion last year, he said.
With annual sales of approximately 360,000 metric tons of finished products and 2000 employees, Siderperú is Peru’s largest steel company.
Its factory is located in the city of Chimbote, to the north of Lima.
News source: ANDINA
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