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
-
Madyo Connects Restaurants and Diners in Malawi
05:51
-
DR Congo firm Benesha plans syringe factory as Kinshasa demand tops 10 million monthly
20:22
-
Development Partners Pledge Over $200M for DRC Population Census, Exceeding Funding Needs
20:14
-
African Oil Ministers Boycott London Summit Over Local Content and Inclusivity Issues
20:11
-
Burkina Faso Creates New Body to Streamline Business Climate Reforms
19:47
-
Cameroon banana exports up 7% in 2025 as CDBM and CDC lead growth
18:59
-
WTO e-commerce moratorium debate puts Africa’s fiscal sovereignty back in focus
18:56
-
Cameroon Opens First Robusta Coffee Post-Harvest Processing Center
18:48
-
Togo to Raise 30 Billion CFA Francs on WAEMU Market Through Bills and Bonds
18:46
-
Togo Ranks Second in Africa on Women’s Legal Frameworks, Behind Mauritius
18:43
Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...
The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...
Novo Nordisk cuts Wegovy prices in South Africa amid competition Move targets rival Eli Lil...
ECOWAS, Energy China discuss regional power infrastructure cooperation Talks cover $36.3...
First investor town hall since 2021 signals renewed engagement with markets Authorities hi...
Benesha to build medical consumables factory in DR Congo SEZ Project aims to cut imports amid strong demand for devices Factory to produce syringes,...
Donors pledge over $200 million for DR Congo census World Bank, AfDB consider major funding and capacity support Census aims to update data...
African oil ministers to boycott May 2026 London energy summit Protest over lack of inclusivity and weak focus on African priorities Move reflects...
Burkina Faso creates unified body for PPP dialogue, business reforms New framework to streamline institutions and improve public fund use Security...
RFI confirmed the end of “Couleurs Tropicales” following Claudy Siar’s departure after 31 years. The move follows a series of high-profile exits...
Top 50 ranking highlights women across core tourism service segments Tourism contributes $168 billion to GDP and supports over 24 million...