Cevital and Vale to build steel complex in Brazil
Tuesday, 08 March 2016 18:56
Algerian private conglomerate Cevital and Brazilian firm and world’s leading iron ore producer, Vale, have signed on March 4, a memorandum of understanding with the Pará Brazilian state for the construction of a steel complex, local press agency Pará reports.
Construction of the complex and its port should start in two years, the same source reveals.
In October 2015, Cevital said it planned to invest in the agro-food, steel and logistics industries in Pará, Brazil. The firm’s head, Issad Rebrab at the time mentioned the dismantling and transfer to Pará of his Italy-based steel plant.
Cevital is active in about ten sectors including agro-food, automobile distribution, glass industry, press, and house appliances. Its president Issad Rebrab is the only Algerian in Forbes’ 2016 world billionaires ranking, with a wealth of $3.1 billion.
Live News
-
Africatek 2025 in Ouagadougou to spotlight AI adoption across Africa
10:17
-
Cascador Opens Applications for ScaleUp 2026 Startup Program
10:04
-
Cashi, IFC to roll out interoperable payments platform in Central Africa, starting with Chad
10:03
-
Côte d’Ivoire Holds Pump Prices Steady Amid Rising Crude Costs
09:59
-
World Bank Approves $550 Million for Education and Social Protection in Tanzania
09:15
-
Nigeria Unveils $50 Billion Livestock Investment Plan Backed by Private Sector
09:03
-
Ghana Adds $100 Airport Levy, Raising Pressure on Regional Air Travel
08:52
-
Ethiopia unveils teleSign e-signature system to streamline government services
21:26
-
Pests and Flooding Hit Cameroon’s Cotton Sector, Driving Annual Losses Above CFA10 Billion
20:50
-
Cameroon Raises CFA144 Billion in Bond Sale as Short-Term Funding Pressures Persist
20:35
Novo Nordisk cuts Wegovy prices in South Africa amid competition Move targets rival Eli Lil...
WAEMU posts 3.31 trillion CFA francs trade surplus in Q4 Exports surge 50.4%, led by gold, ...
The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...
Operator explores renewable energy partnership with Italy’s Ascot Energy Move aims to stabilize p...
First investor town hall since 2021 signals renewed engagement with markets Authorities hi...
Government keeps retail fuel prices unchanged for April 2026 Brent crude rises above $90 amid Middle East tensions Subsidies and price...
Funding targets skills development, jobs, and support for vulnerable households Programs expected to benefit over 3 million people The World...
Plan aims to grow sector value to $74 billion Focus on modernization, infrastructure, and boosting productivity across value...
Ghana introduces new airport levy raising passenger travel costs Airlines warn higher fees threaten demand and regional integration...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...
RFI confirmed the end of “Couleurs Tropicales” following Claudy Siar’s departure after 31 years. The move follows a series of high-profile exits...