Cia. Vale do Rio Doce, the world’s biggest iron-ore producer, plans to build a $1 billion iron ore pellet plant and distribution center in Oman’s Sohar port, the Oman Daily Observer said, citing agreements signed by senior ministers in the Netherlands.

Vale’s plant, its first investment outside Brazil, will begin production in the second half of 2010, the newspaper said. The ministers signed the contracts in Rotterdam this week, according to the newspaper.
(Source: Bloomberg)