It's reported that Italian steel group Arvedi Group, composed of 4 steel making companies is going to build a steel pipe mill called Arvedi Metalfer do Brazil in Indaiatuba, located in Brazil's Sao Paulo state which can manufacture 60,000 tons of welded tubes and 30,000 tons of cold drawn welded tubes each year.
However, the steel group also has tried to borrow the money to build such plant from Inter American Investment Corporation IIC for a loan of up to US$5 million.
Arvedi Metalfer do Brasil in Salto, Brazil contracted SMS Meer earlier this year to supply a RD 140 HF welded tube plant with an integrated finishing line.