Usiminas invests in Cubatão to cater to shipyards and oil companies
Valor Econômico
Usiminas starts moving into the market of equipment and components for the oil and naval industry, as per the strategy of directing its investment in the coming years in high added value products, to the detriment of semi-finished products, such as steel plates. Today the company announces an investment in the construction of an industrial complex in Cubatão (SP) in order to deliver the orders placed by manufacturers of oil rigs of the pre-salt layer and by shipyards.
Altogether, there will be three industrial units. The main unit, together with Promon Engenharia, a São Paulo company, will be a plant for oil rig modules whose target client is Petrobras. Two other units will also be built - one for blocks and another one for metal structures for the naval industry. The company did not want to disclose the total amount to be invested. In the production of modules alone nearly US$ 200 million will be invested.
Usiminas should start delivering the orders made in mid-2011. One module will consume 2.5 thousand tons of steel and take 18 months to be delivered. The plant of Usiminas will be able to produce 18 modules at the same time. At full capacity, the complex, which will be located inside the site of the steel plant of Cubatão, next to the port terminal, will consume from 120 thousand to 150 thousand tons of steel plates and reels produced both locally and in Ipatinga (MG). The thick steel plates produced with a high level of resistance for drilling in ultra-deep oil fields will come from the Minas Gerais unit. The company is investing in the increase of the capacity and will have nearly 350 thousand tons more of that product in 2011.
The internal market is currently responsible for nearly 70% of sales of Usiminas and the foreign market, 30%. This year, the company should sell nearly 6 million tons, with a fall of nearly 20% compared to 2008. The total capacity of production of crude steel of Usiminas is of 9.5 million tons.
Petrobras is the main reason for this new venture of Usiminas in the offshore and naval industry. Besides the project in Cubatão, Usiminas should also set up a Steel Research Center in Rio. It should be erected next to the Petrobras Research Center, in ilha do Fundão, in the capital of the State, for the development of technology of products in the oil industry. It will invest a total between R$ 12 million (US$ 7 million) and R$ 15 million (US$ 8.7 million) in this undertaking.