Posted on 29 Apr 2015
Dongkuk Steel is building the steel mill in Ceara, located in the northeastern part of the country.
The operator, dubbed CSP, is controlled by Dongkuk Steel Mill. South Korea's steelmaking giant POSCO also holds a 20 percent stake in the joint venture.
The CSP has secured the loan from the BNDES, a Brazilian development bank, and the loan will be used to finance the construction of the steel mill. The debt should be paid back in 12 years, according to Dongkuk Steel.
Dongkuk Steel Mill started the project in 2012 and its completion is scheduled for the second half of next year. The steelmaker said the construction has been 80 percent completed.
