Cerimnia representa marco para

o start up da obra p. 2

Projeto tem emprstimo

concedido por banco francs p. 4

THE CEREMONY IS A MILESTONE FOR THE

STARTUP - PAGE 2

THE PROJECT HAS BEEN GRANTED A LOAN

BY A FRENCH BANK - PAGE 4

JANEIRO/2015

JANUARY/2015

www.cspecem.com

EDIO/ EDITION # 18

Tijolos receberam mensagens com desejos de sucesso siderrgica. Cerimnia contou ainda com a participao de empregados da CSP e da Posco E&C
Messages with wishes for the steel plants success were written on the bricks. The ceremony was also attended by employees from CSP and Posco E&C

Obra avana com assentamento

dos tijolos do alto-forno

Evento no dia 22 de janeiro reuniu os presidentes das trs empresas acionistas - Vale, Dongkuk
e Posco - em um momento histrico: o assentamento dos tijolos do alto-forno da CSP, o
primeiro a ser instalado no Cear p.3

THE CONSTRUCTION WORK HAS PROGRESSED WITH THE BRICKLAYING AT THE BLAST FURNACE
THE EVENT HELD ON JANUARY 22 BROUGHT THE CEOS OF THE THREE SHAREHOLDING COMPANIES - VALE, DONGKUK AND
POSCO TOGETHER IN A HISTORIC MOMENT: CSPS BLAST FURNACE REFRACTORY CEREMONY, THE FIRST TO BE INSTALLED IN
CEAR STATE - PAGE 3

P. 2

CSP NEWS. JANUARY/2015

JANAURY/2015

EDITORIAL

Srgio Leite | CEO

w w w. c s p e c e m . c o m

Iniciamos o ano de 2015 com uma

cerimnia bastante representativa
para a CSP. O assentamento dos
tijolos do alto-forno marcou o progresso da construo dessa planta,
que funcionar como o corao da
siderrgica. O evento trouxe ao
Cear os presidentes das empresas acionistas que compem a join
venture: Vale, Dongkuk e Posco.
Pela primeira vez, tivemos os trs
juntos visitando a obra.
Trouxemos Murilo Ferreira (da
Vale), Sae-Joo Chang (Dongkuk)
e Jin Il Kim (Posco) para acompanhar de perto o andamento das
obras das principais plantas. Alm
do alto-forno, eles visitaram a aciaria e a coqueria. Ficamos felizes em
receber retornos to positivos de

cada um. Mesmo conhecendo a

fundo o projeto e acompanhando
seu andamento, todos se surpreenderam com a evoluo que viram ao chegarem ao Pecm.
Esse comprometimento dos acionistas fortalece ainda mais a cooperao entre o Brasil e a Coria do
Sul e, consequentemente, a consolidao da CSP no Cear.
No podamos iniciar o ano de forma melhor, totalmente engajados
em fazer a usina operar e recebendo positivos retornos, tanto dos
nossos acionistas quanto do mercado financeiro nacional e internacional. Um sinal de que a CSP j
no mais apenas um projeto, mas
um sonho sendo concretizado.

We started 2015 with a ceremony

that is very meaningful to CSP. The
blast furnace refractory ceremony
marked the construction progress
of this plant, which will work as the
heart of the steel plant. The event
brought to Cear State the CEOs
of the shareholding companies
that form the joint venture: Vale,
Dongkuk and Posco. This was the
first time they visited the construction
together.
We invited Murilo Ferreira (Vale),
Sae-Joo Chang (Dongkuk) and Jin
Il Kim (Posco) to closely follow the
construction progress of the main
plants. Besides the blast furnace,
they visited the steelmaking unit and
the coke plant. We were glad to
receive positive feedback from each

one. Although they know the project

in detail and follow its progress, they
were all surprised with the evolution
they witnessed when they arrived at
Pecm.
The shareholders engagement
further strengthens the cooperation
between Brazil and South Korea, and
consequently the consolidation of
CSP in Cear State.
The year has started really well for
us. We have been totally engaged in
making the steel plant start operation
and have received positive feedback,
both from our shareholders and
from the domestic and international
financial markets. This is a sign that
CSP is no longer only a project, but a
dream becoming reality.

CSP OBRA - ALTO-FORNO/ CSP CONSTRUCTION WORK - BLAST FURNACE

Alto-forno, setembro de 2013 | Blast furnace, September 2013

Alto-forno, dezembro de 2013 | Blast furnace, December 2013

Alto-forno, maio de 2014 | Blast furnace, May 2014

Alto-forno, janeiro de 2015 | Blast furnace, January 2015

Informativo Mensal / Newsletter - Presidente CEO/ Chief Executive Officer Srgio Leite - GAO / General Administrative Officer - Chiho Chang - CFO/ Chief Financial Officer Alexandre Bernstein - CPO / Chief Project Officer Dong Ho Kim
Jornalista responsvel/ Journalist - Emanuela Frana (Mtb - 1721/CE) - Gerncia de Comunicao/Communication Manager - Tradutor/ translation - Tnia Caldas - Contato/Contact - comunicacao@cspecem.com

CSP NEWS. JANEIRO/2015

P. 3

JANUARY/2015

w w w. c s p e c e m . c o m

CERIMNIA MARCA NOVA ETAPA DA CONSTRUO

Na imagem ao centro, o CEO da CSP, Srgio Leite, ao lado dos presidentes da Vale, Dongkuk e Posco

O alto-forno iniciou a fase de

assentamento dos tijolos. Ao
todo, sero necessrios 27 mil
tijolos refratrios
A Companhia Siderrgica do Pecm (CSP) deu mais um importante passo para o incio da operao.
No dia 22 de janeiro, a empresa
realizou a Cerimnia de Assentamento do Tijolo do Alto-Forno N
1, no site da obra, em So Gonalo
do Amarante (CE). O evento reuniu os presidentes das trs empresas acionistas: Murilo Ferreira, da
Vale; Sae-Joo Chang, Dongkuk; e
Jin Il Kim, Posco. A cerimnia foi
marcada pelo assentamento de tijolos que receberam mensagens de
sucesso siderrgica.
Alm dos acionistas, assinaram
os tijolos Hlio Cabral, presidente
do Conselho de Administrao da
CSP; Srgio Leite, presidente da
CSP; Dong Ho Kim, diretor de projetos da CSP; Chiho Chang, diretor
administrativo da CSP; Alexandre
Bernstein, diretor financeiro da
CSP; e Kyu Young Ahn, diretor de
projetos da Posco E&C.
Representando os acionistas, o
presidente da Vale, Murilo Ferreira, ressaltou em seu discurso o
sucesso que vem sendo o modelo
de cooperao entre a Coreia do
Sul e o Brasil, alm de destacar a
segurana da obra. O fato de no
termos tido, at hoje, nenhum acidente fatal nos alegra, mas temos
que utilizar este sentimento positivo para estarmos constantemente
atentos nossa segurana e a de

The picture in the middle shows the CEO of CSP, Srgio Leite, next to the CEOs of Vale, Dongkuk and Posco

nossos colegas, colocando a vida

em primeiro lugar.
Em nome da CSP, Hlio Cabral,
presidente do Conselho de Administrao da empresa, falou sobre
a experincia nica de ver uma siderrgica em construo. Srgio
Leite, presidente da CSP, encerrou os discursos destacando que
os desafios nunca acabam e que o
foco neste momento cumprir as
metas propostas. Para o CEO, o
assentamento dos tijolos do alto
forno representa mais um marco a
caminho do start up da obra.
O evento contou ainda com a participao de empregados da CSP e
da Posco E&C, empresa contratada
para a construo da obra.
O PROJETO - O alto-forno
uma das estaes mais importantes da siderrgica, responsvel
pela produo de um tipo especial
de ferro chamado gusa, utilizado
na aciaria dentro do processo de
produo para ser transformado
em ao. Atualmente, mil homens
trabalham nessa planta. Para sua
concluso, sero utilizados 27 mil
tijolos refratrios, totalizando 14
mil toneladas. O alto-forno da CSP
ter capacidade (volume) de 3.800
metros cbicos.
A CSP um empreendimento de
US$ 4,86 bilhes que prev a produo de trs milhes de toneladas
de placas de ao/ano.

THE CEREMONY MARKS A NEW PHASE IN THE

CONSTRUCTION
The bricklaying work phase has started at the blast furnace.
Altogether, 27 thousand refractory bricks will be used.
The Companhia Siderrgica do
Pecm (CSP) has taken one more
important step for the operation
startup. On January 22, the company
held the Refractory Ceremony in No.
1 Blast Furnace at the construction
site in So Gonalo do Amarante
(CE). The event was attended by
the CEOs of the three shareholding
companies: Murilo Ferreira, of Vale,
Sae-Joo Chang, Dongkuk, and Jin Il
Kim, Posco.
The ceremony was marked by the
laying of bricks bearing wishes of
success to the steel plant. Besides the
shareholders, Hlio Cabral - president
of CSP Administrative Council, Srgio
Leite CEO of CSP, Dong Ho Kim
CPO of CSP, Chiho Chang CAO of
CSP, Alexandre Bernstein CFO of
CSP, and Kyu Young Ahn - CPO of
Posco E&C, also signed the bricks.
On behalf of the shareholders,
the CEO of Vale, Murilo Ferreira,
highlighted in his speech the success
of the cooperation model between
South Korea and Brazil and the
safety in the construction work. We
are glad we havent had any fatal
accident on the construction site to
this date, but we need to use this
positive feeling so as to pay constant
attention to our colleagues and our
own safety, bearing in mind that life

comes first and foremost.

On behalf of CSP, Hlio Cabral,
president
of
the
companys
Administrative Council, spoke about
the unique experience of following
the construction of a steel plant.
Srgio Leite, CEO of CSP, made the
last speech highlighting that the
challenges are endless and that the
focus now is to accomplish the goals.
In his opinion, laying the first bricks for
the blast furnace is another milestone
for the startup.
The event was also attended by
employees from CSP and Posco E&C,
the company contracted for the
construction.
THE PROJECT The blast furnace is
one of the most important stations in
the steel plant, being responsible for
the production of a special type of
iron, called pig iron, used in steelworks
in the steel production process. A
thousand men are currently working
in this plant. Twenty-seven thousand
refractory bricks will be used for
its completion, with a total of 14
thousand tons. The CSP blast furnace
will have a capacity (volume) of 3,800
cubic meters.
The CSP is a US$ 4.86 billion
enterprise aiming to produce three
million tons of steel slabs/year.

P. 4

CSP NEWS. JANEIRO/2015

JANUARY/2015

w w w. c s p e c e m . c o m

BANCO
FRANCS
APROVA
EMPRSTIMOPONTE PARA
OBRA
Crdito de US$ 240
milhes concedido
pelo BNP Paribas
demonstra a
credibilidade
do projeto da
CSP no mercado
financeiro nacional
e internacional
A Companhia Siderrgica do
Pecm (CSP) teve um novo emprstimo-ponte concedido para
a construo do projeto. O banco
francs BNP Paribas aprovou o valor de US$ 240 milhes pelo perodo de seis meses. Esse o segundo
emprstimo-ponte concedido
CSP. O primeiro, no valor de US$
900 milhes, foi contratado pela
CSP com as instituies financeiras Santander, HSBC e as coreanas
KoFC e Nonghyup Bank. Ambos
esto vinculados a um emprstimo de longo prazo que vem sendo
negociado pela CSP com agncias
de financiamento e bancos comerciais da Coria e do Brasil.
Essas negociaes atendem estratgia de financiamento adotada
pelas trs empresas acionistas no
fim de 2011, quando Vale, Dongkuk
e Posco aprovaram a implantao
da siderrgica, utilizando cerca de
50% de capital prprio e o restante
financiado por capital de terceiros.
Para ter a liberao do emprstimo-ponte pelo BNP Paribas, a
CSP teve uma srie de requisitos
analisados e aprovados, alinhados
com as melhores prticas do mercado mundial: a qualidade tcnica
do projeto, o andamento da obra,

Recursos esto sendo investidos no projeto de construo da siderrgica

Resources are being invested in the steel plant construction project

FRENCH BANKS APPROVAL OF BRIDGE LOAN FOR

THE CONSTRUCTION

a qualificao da empresa contratada para a construo da usina,

a avaliao de risco do projeto, o
uso de boas prticas sustentveis,
o comprometimento, experincia
e a confiabilidade dos acionistas,
entre outros pontos.
por atender a todas essas exigncias que a aprovao do emprstimo significa tambm um reconhecimento e confiana do mercado
financeiro internacional e nacional ao projeto de implantao da
primeira usina siderrgica integrada no Cear.
Todos os recursos concedidos esto sendo investidos no projeto de
construo da siderrgica. Hoje,
a obra registra um progresso de
70%, incluindo os processos de
construo, compras e engenharia.
A CSP segue em fase avanada
com a negociao do emprstimo
de longo prazo. A expectativa
que essas negociaes - que envolvem as agncias de financiamento
brasileira e coreana, alm de bancos comerciais - sejam finalizadas
neste semestre, com uso de parte
dos recursos para amortizao dos
emprstimos-ponte. O emprstimo de longo dever ser quitado no
prazo de dez anos.

US$ 240 million credit granted by the BNP Paribas shows

the credibility of the CSP project in the domestic and
international financial markets
The Companhia Siderrgica do
Pecm (CSP) had a new bridge loan
granted for the construction of the
project. The French bank BNP Paribas
approved the amount of US$ 240
million for a period of six months.
This is the second bridge loan granted
to CSP. CSP took out the first one, in
the amount of US$ 900 million, from
the following financial institutions:
Santander, HSBC and the South
Korean KoFC and Nonghyup Bank.
Both are tied to a long-term loan
which CSP has been negotiating
with credit agencies and commercial
banks from South Korea and Brazil.
These negotiations follow the
financial strategy adopted by the three
shareholding companies at the end
of 2011, when Vale, Dongkuk and
Posco approved the implementation
of the steel plant, using about 50%
equity financing and debt financing
the remainder.
In order to have the bridge loan
granted by the BNP Paribas, CSP
had to meet a series of requirements
which were analyzed and approved
in alignment with the best practices
in the world market: the technical
quality of the project, the progress
of the construction, the qualification
of the company contracted for

the construction of the steel

plant, project risk assessment, use
of good sustainable practices,
the shareholders commitment,
experience and reliability, among
others.
Because we have met all those
requirements, the loan approval
also means that the domestic and
international
financial
markets
recognize and have confidence in the
project for the implementation of the
first integrated steel plant in Cear
State.
All the resources granted are
being invested in the project for
the construction of the steel plant.
Today, 70% of the construction
has been concluded, including the
construction, procurement and
engineering processes.
CSP had reached an advanced
phase with the negotiation of the
long-term loan. These negotiations
which involve Brazilian and South
Korean credit agencies, besides
commercial banks - are expected to
be finalized this semester, with part
of the resources being used for the
amortization of the bridge loans. The
long-term loan will be repaid in ten
years time.