The French steel group USINOR has now invested more thanr USD1 billion in Brazil, of which over 400 million is for the construction of a factory in the south of the country (Vega do Sul), in partnership with Canadian DOFASCO (20%) and Spanish GESTAMP (10%). Francis Mer, USINOR President, has just announced the construction of a third smelting furnace in the COMPAGNIE SIDERURGIQUE DE TUBARÃO (CST) plant controlled by USINOR through crossed shareholding. The project, which should be for 2005, would require an additional financial effort of USD 600 million.