China-based Baosteel Group Corp. has announced that it is leaving Brazil after failing to set up a steelworks with Cia Vale do Rio Doce. The Maranhao state project was abandoned after political problems and also one in Espirito Santo state failed to gain an environmental license last year. Baosteel tried for eight years to set up a steelworks with Brazil-based Vale to make as much as 10 million tonnes a year of steel in Brazil. Baosteel has shut its office in Vitoria, Espirito Santo state.
