The Italian-Argentinean multi-national Grupo Techint pitched to Mexican President Enrique Peña Nieto an investment project of more than US$ 1 billion to develop a hot-rolled steel mill in the industrial center that Techint launched in 2013.
Paolo Rocca, Techint’s chairman, said that the development should take the steel company Ternium into operations in the second half of 2020. The plant’s annual output capacity is estimated at 3.7 million metric tons.
According to the company, the plant is intended to meet the demand of both the automotive industry and the sectors of household appliances, machinery, energy and construction.