Aceros Arequipa, one of Peru’s largest steelmakers, said it will invest a combined $243 million at its Pisco EAF mill.
The $243 million investment includes a recent $23 million investment approved by its board of directors on April 29, according to a document filing obtained by SteelOrbis, which will allow the company to produce a wider range of steel products.
Separately, Aceros Arequipa said it will also invest another $43 million to modernize a rolling mill to boost production efficiency of profiles, round bars and high carbon steel products.
The Pisco EAF mill will have a 1.2 million mt/year crude steel capacity. Currently, its Pisco mill has an 850,000 mt/year billets capacity. In January this year, Aceros Arequipa said it planned to start-up its Pisco EAF mill by May this year.