Acerías Paz del Rio asks Colombia for free trade zone

Colombian steelmaker Acerías Paz del Rio will ask the national government for a free trade zone declaration for its Belencito mill, enabling the company to secure special tax treatment for local and foreign trading.

According to an APR statement seen by Steel Business Briefing, the request was approved by the steelmaker’s board on 9 May.

The project is part of a program developed by Votorantim, APR’s parent company, to improve the Colombian mill's competitiveness and to make viable new investments planned by the group.

As previously reported, Votorantim, is studying investments of US$210m to upgrade its production capacity over the next three years, but the project is still subject to the board’s approval.

Publication: SBB - Steel Business Briefing
Provider: Steel Business Briefing
Date: May 20, 2008