India-based Preet Machines Limited and Monterrey’s Planeación Mantenimiento y Proyectos (Grupo PMP) announced investments of US$500 million in 10 new mini-mills in the next five years. Possible locations include Sonora, Chihuahua, Oaxaca, Guerrero, Baja California Sur, Tabasco, and Quintana Roo.
Last week, the two companies signed an agreement initiating the alliance. "We hope that the project can grow in Mexico to about 20 to 50 mini-mills,” said Porfirio González, president of PMP.