Ecuadorian long steel producer Acerias Nacionales del Ecuador (Andec) announced this week it expects to invest over $165 million in the next 10 years to not only strengthen its competitive position in the country, but also to help it reduce costs and open new distribution centers.
The investment will be made in four phases: in the first phase, Andec plans to invest $29.2 million between 2017 and 2018. In the second stage, it will invest another $27.5 million between 2019 and 2021, followed by another $80.4 million between 2022 and 2024 and finally an additional $28.9 million between 2025 and 2026, according to the company’s manager, Benigno Sotomayor.
Sotomayor added that one of the company’s goals with the forecasted investments, in addition to boosting its commercial strength, is helping it improve technical aspects such as saving energy.
In September this year, Andec opened a new office in the north area of Quito. At the time, Andec said it wanted to open more offices in other Ecuadorian cities.
More recently, in October, Andec announced it will build a new distribution center in the city of Guayaquil to help it strengthen and improve access to clients in the industrial areas of Ecuador, reducing delivery times and allowing clients to take shipments themselves.