Brazil Usiminas Still 'Keenly Interested' In Bidding For Rio Port

Brazilian steelmaker Usinas Siderurgicas de Minas Gerais SA (USIM5.BR, USZNY) or Usiminas, said it is still "keenly interested" in participating in the auction for the "Area do Meio" or Middle Area port area that will be put up for auction in the near future in Rio de Janeiro state, southeast Brazil, Usiminas directors said Tuesday.

The prospectus for the auction of the port area is expected to be published in the near future by Brazil's federal port authorities, as there are no further impediments to the project, Usiminas directors said during a conference call.

Area do Meio, situated at Itaguai on the Atlantic coast, would be used to build an iron-ore port. Usiminas is currently investing in increasing its iron-ore production to 29 million metric tons a year by 2015, part of which it plans to export. The steelmaker currently doesn't have its own iron-ore port and has accords to ship ore via the port which MMX Mineracao e Metalicos SA (MMXM3.BR) is building, also in the Itaguai vicinity.

Usiminas may join in a partnership with steelmaker ArcelorMittal (MT) in a bid for the port areas, the companies said last month.

-By Diana Kinch, Dow Jones Newswires; 55-21-2586-6086; diana.kinch@dowjones.com

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