During a recent visit to China, Agnelli met dignitaries from steel majors including Baosteel, Angang and Magang. Since 1996 China has been the world’s largest steel producer, with output of crude steel this year expected to be 210 mt. To cope with the greater demand for its products, CVRD is to invest US$500 mill up to the end of the decade in boosting iron ore production by 40 percent and upgrading logistics. The project to expand output at Carajás has been brought forward by a year to enable the facility to handle 70 mtpa by the first quarter of next year. This phase requires an investment of US$144 mill.
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This complete item is approximately 400 words in length, and appeared in the September/October 2003 issue of Bulk Materials International, on page 5. To access this issue download the PDF here.