Of this amount, 37%, around 3.4 billion reais (US$ 625 million), has already been invested, while the remaining 5.8 billion reais (US$ 1.067 billion) had its projection revised for the coming years.

Brazilian steelmaker Gerdau has updated its investment forecasts on Thursday, and now expects to allocate 9.2 billion Brazilian reals (US$1.693 billion) to this item.

Of this amount, 37%, around 3.4 billion reais (US$ 625 million), has already been invested, while the remaining 5.8 billion reais (US$ 1.067 billion) had its projection revised for the coming years, mainly until 2027.

For its part, Gerdau has also pointed out that these investments that have not yet been completed have the potential to generate a potential annual gross operating profit (EBITDA) of 2.8 billion reais (US$ 515 million).

These upward revisions are the result of an updated vision, free of completed projects, the incorporation of downstream projects in North America and an adjustment to forestry investments due to the stoppage of Barão Molinos de Cocais and Sete Lagoas (Biomass Route).

In this regard, the company has clarified that the information presented above was based on forecasts, which are subject to market risks and uncertainties, being estimated based on its own beliefs and premises according to the available data.

The company also stressed that such information does not establish any promise of performance, since the company's actual earnings for such indicators may be materially different from the results expressly or implicitly provided from this data.