(CercleFinance.com) – After receiving authorization from the appropriate authorities, ArcelorMittal announced on Friday that it has finalized the acquisition of Companhia Siderúrgica do Pecém (CSP) in Brazil, a transaction completed on the basis of an enterprise value of about $2.2 billion.
This plant, which is located in the northeast of the country, produces high quality steel at competitive costs, the steelmaker said in a press release.
Commissioned in 2016, the site can rely on a blast furnace with a capacity of three million tonnes and direct access to the port of Pecém, located just 10 km from its facilities.
ArcelorMittal explains that the operation will allow it to generate “significant” synergies both in operational and financial terms, while having the potential to expand its structure.
Another advantage, CSP presents an interesting lever for the creation of a carbon-free steel production platform, in accordance with the will of the State of Ceará to build a ‘hub’ specialized in low-cost green hydrogen in Pecém .