Word: redonda
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From one of the great open-hearth furnaces poured a molten white stream-steel. The rolling mill clanked out the first structural shapes. A white-clad band struck up the national anthem. The Volta Redonda steel plant (not far from Rio de Janeiro), the most impressive industrial sight in Latin America, was officially in operation. Brazil's dream of industrial self-sufficiency was being realized...
Phony Facade. The new Brazilian enthusiasm is industrialization. But the $110 million Volta Redonda steel plant, five years abuilding, designed to make Brazil self-sufficient in steel, has yet to be inaugurated. The $13 million Quitandinha Hotel, which was to attract all the world's wealthy tourists, is virtually empty. The National Motor Factory-one of the world's most modern-has produced by itself one airplane engine in three years of operation. There is a huge movie studio outside São Paulo, brand-new and abandoned...
...authorized a $45 million loan to finance Brazilian Dictator Getulio Vargas' dream of the Volta Redonda Steel Works...
Biggest industrial venture is the steel mill at Volta Redonda in the State of Rio de Janeiro. Partly financed by a $45,000,000 Export-Import Bank credit for buying U.S equipment, it will process ore from the enormous, high-grade deposits at Itabíra in the State of Minas Geraes. Eventually, Volta Redonda should supply Brazil with a good part of the steel which must now be imported. U.S. help in this project has won a lot of good will...