Leading steel producer Gerdau, headquartered in Porto Alegre, RS, Brazil, has announced plans to restart its electric arc furnace (EAF) steel mill located in Guaira, Brazil. The company previously decided to resume operations at its Mogi daz Cruzes steel plant in the second half of this year.
The company will spend about $ 10 million to reopen the mill. The restart is scheduled for the second half of this year. Gerdau cited increased steel demand in Brazil as the reason for the restart. Gerdau expects to create 300 new jobs.