South Korea's Posco Engineering & Construction (E&C) signed a contract worth a reported $4.3 billion to construct a steel mill for Companhia Siderurgica do Pecem (CSP) in Brazil's Ceara state. Posco E&C will be responsible for engineering, equipment supply, construction and commissioning. The integrated steel plant, which will have an annual capacity of approximately 3 million metric tons of steel slabs, is scheduled to be completed by 2015. CSP is a joint venture between Brazil's Vale (50%), South Korea's Dongkuk Steel Mill (30%) and Posco (20%). The mill's production will mostly be supplied to Dongkuk Steel Mill.