Brazilian special steel maker Gerdau to inaugurate its Rs 2400 cr plant in Tadipatri in October’14

Brazilian special steel maker Gerdau is likely to inaugurate its plant in Tadipatri near Anantapur in October this year.

A delegation from the steel company met the Andhra Pradesh Chief Minister N Chandrababu Naidu  and invited him for the commissioning of the plant in October. The company executives also discussed their expansion plans in Andhra Pradesh.

The Andhra Pradesh plant is its first investment in Asia. The plant has an installed capacity of 3,00,000 tonnes and has been set up with an investment of over $400 million. The plant is spread across 846 acres.

Executive director of the company Mark Marcucci, executive vice-president, Andra Pires De Oliveira Dias, CFO, and Guilherme Gerdau Johannpeter, executive vice-president, led the delegation.

Read the Business Line report HERE.

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