BRASILIA, April 24 (Reuters) - Brazil’s president, Dilma Rousseff, said on Friday that the delayed CSP steelworks, a joint venture between miner Vale SA and South Korea’s Posco and Dongkuk Steel, will be “inaugurated” early next year.
A spokeswoman for the steelworks, formally known as Companhia Siderurgica do Pecem, confirmed that production at the plant will start early next year.
The steel plant in the northeastern state of Ceara, with a first-phase capacity of 3 million tonnes of slabs per year, was originally supposed to start production last August.
Rousseff’s announcement was made at a ceremony in Brasilia attended by South Korean President Park Geun-hye.
Vale has a 50 percent stake in the steel plant, Dongkuk has 30 percent and Posco has 20 percent. (Reporting Maria Carolina Marcello and Stephen Eisenhammer; editing by Matthew Lewis)