Brussels, 19/12/2001 (Agence Europe) - The European Investment Bank (EIB) has granted a EUR 58 million loan to the company Vega do Sul SA to construct a cold rolling mill and steel galvanisation plant in Sao Fernando do Sul (Santa Catarina State) in the south of Brazil. The project will involve significant technology transfer from Europe to Brazil. Vega do Sul is a company under Brazilian law, owned by the companies Arcelor (Luxembourg), Companhia Siderurgica de Tubarao - CST - (Brazil), Dofasco (Canada) and Corporacion Gestamp (Spain) that will both build and run the plant, which will supply the Mercosur car industry. Vega do Sul will become of the three biggest coated steel plants in Brazil supplying Latin American markets. The project will create 350 direct jobs and 200 in subcontracting companies. The project is expected to be up and running commercially by mid-2003 and be fully on stream three years later.