Brazilian company Vale has agreed to invest €965m in ThyssenKrupp Steel subsidiary CSA Siderúrgica do Atlântico, to increase its stake from 10% to just over half.

CSA is constructing a five million metric tonne integrated steel slab plant in Rio de Janeiro, the largest industrial investment in Brazil in the last decade.

Vale will act as the sole and exclusive supplier of iron-ore to CSA.

The plant is expected to start operation in the first half of 2010.