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Article: Colombia: Country will meet own steel needs in short term.
- Article from:
- TendersInfo
- Article date:
- July 13, 2008
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Byline: shabnam05
Colombia will be able to produce and supply its own steel and be able to export large volumes of surplus in the short term, according to Edgar Jimenez, an analyst at brokerage Stanford Bolsa y Banca.
The forecast is based on several factors, primarily the entry of Brazilian companies Votorantim and Grupo Gerdau (NYSE: GGB) into controlling shareholder roles at Colombian steelmakers Acerias Paz del Rio (APR) and Diaco, respectively, Jimenez told BNamericas.
"Things are going well and I believe that in the very near future - one or two years max - the steel sector will be a major player in the country's exports," he added.
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