Latin Steel firm Metaldom announces steel complex in Trinidad
Dominican steelmaker Complejo Metalurgico Dominicano C por A (Metaldom) is considering the possibility of becoming a key partner in a steel complex in Trinidad. Metaldom announced that a feasibility study would be carried out to look into the building a vertically integrated iron and steel complex.
Metaldom, the leading steelmaker in the Dominican Republic, announced the production of 300,000 metric tons of steel billets in Trinidad & Tobago is being considered at a new steel billet manufacturing mill. Participating in the study are Metaldom, the National Gas Company of Trinidad & Tobago (NGC), the National Energy Corporation of Trinidad & Tobago, Dearborn, Michigan-based Severstal North America and Neal & Massy Holdings to undertake the preliminary studies.
As announced by Metaldom, the complex will involve the construction of a Direct Reduced Iron (DRI)/ Hot Briquetted Iron (HBI) plant that will have a nominal capacity of 1.5 million tons per year and the integration of a steel mill with a nominal production capacity of up to 300,000 metric tons per year of steel billets. The entire project is estimated to cost in excess of US$600 million.
The integrated facility is earmarked for location at the Union Industrial Estate, La Brea in Trinidad and will generate 3,500 indirect jobs during construction and 400 permanent jobs. Additionally, it will contribute to the diversification of the economy, while providing opportunities for the development of downstream industries.
Severstal North America is a US-based wholly owned subsidiary of Russia based OAO Severstal, one of the world’s leading vertically integrated steel and steel related mining companies, with assets in Russia, USA, Ukraine, Latvia, Poland, Italy, Liberia and Brazil.