Steelmaker Ternium will invest $3.2bn in a new slab steel mill within its complex in Pesquería, Nuevo León, where the company has an entire industrial campus.

The investment will allow it to increase its production of higher quality steel for the automotive market and take advantage of the demand of the international industry. On June 19, the firm finally confirmed that the investment will be for its Pesquería Nuevo León complex, where the company will allocate 2.2 billion dollars in a new steel mill.

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The remaining billion dollars will be to add lines to produce 550 thousand tons per year of hot pickling for industrial use, another to produce 650 thousand tons per year with five lines of customized steel; another that will generate 1,600 tons per year of high-quality cold rolling and one of 600,000 tons per year of industrial galvanizing, projects that will start up between 2024 and 2025.

“We are excited to announce the selection of Pesquería, Nuevo León, as the official location for our new upstream production capacity project.

This decision is a significant milestone for our company, as we continue to integrate our manufacturing capabilities to serve all of our customers in Mexico, while consolidating our position as a leading player in the T-MEC region," said Máximo Vedoya. , CEO of Ternium.

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The flat steel producer with plants in Mexico, Brazil, Argentina, Colombia, the United States and Central America, expects the construction of the new steel mill in Nuevo León to begin in December 2023, with the start of operations expected during the first half of 2026.

“The value chain in Mexico is quickly addressing and responding to the growth opportunities presented by nearshoring manufacturing capacity. We are confident that the qualified workforce and the favorable business environment in the country will allow us to achieve our ambitious goals”, added the Ternium manager.

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