ArcelorMittal announced that it will establish a renewable joint venture with Casa dos Ventos to develop a 554 MW power plant. The transaction was approved by Brazil's antitrust agency CADE on April 13 and is expected to be completed within the next 15 days.
ArcelorMittal will have a 55% stake in the venture, while Casa dos Ventos will have the remaining 45% stake. It was also stated that ArcelorMittal will make a total equity investment of $0.15 billion.
The project will be worth $800 million.
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