ArcelorMittal signs investment agreement with Brazilian state government
According to reports, ArcelorMittal Gonvarri Brasil, a joint venture established by ArcelorMittal and Gonvarri Steel Services, had signed a letter of intent with the State Government of Rio Grande do Sul to build a steel plant in the municipality of Glorinha, in the Metropolitan Region of Porto Alegre (RMPA) in southern Brazil.
This project will cost 52.5 million reais and create 100 direct jobs.
The state government will provide ArcelorMittal with ICMS tax exemption in exchange for the investment plan.
