Help

From the foundations to the rooftops of our cities, our steel supports and strengthens our nation.

South African IDC in talks for partners for new steel plant

Source: Steel Guru Date: 07 June 2012

Bloomberg reported that South African state lender Industrial Development Corp is in talks with potential partners on proposals to build a steel plant to compete with ArcelorMittal South Africa Ltd and Evraz Highveld Steel and Vanadium Ltd.

Mr Dave Cousins IDC executive for mining and beneficiation in a Cape Town conference, without naming the parties involved in the talks, told that the project would have capacity of 2.5 million tonnes a year and use technology to cut output costs.

He said “We have a solution, and we are engaging with partners.”

He added “There is room for additional steel capacity.”

The IDC estimates South African capacity of 9.3 million tonnes a year compared with consumption of 5.4 million tonnes

Bloomberg reported that South African state lender Industrial Development Corp is in talks with potential partners on proposals to build a steel plant to compete with ArcelorMittal South Africa Ltd and Evraz Highveld Steel and Vanadium Ltd.

Mr Dave Cousins IDC executive for mining and beneficiation in a Cape Town conference, without naming the parties involved in the talks, told that the project would have capacity of 2.5 million tonnes a year and use technology to cut output costs.

He said “We have a solution, and we are engaging with partners.”

He added “There is room for additional steel capacity.”

The IDC estimates South African capacity of 9.3 million tonnes a year compared with consumption of 5.4 million tonnes

Your browser is out-of-date!

Update your browser to view this website correctly. Update my browser now

×