Mexican integrated steelmaker Altos Hornos de Mexico (AHMSA) said it expects to invest $70 million in a third gas-fueled electricity plant.
Currently, AHMSA has two plants running that use technology from Caterpillar in Germany and have a combined capacity of 40 megawatts.
AHMSA said it expects to use the same technology powering the No. 7 and No. 8 plants into the new project (plant No. 9), which will have an individual capacity of 100 megawatts.
The company said the investment is part of its plan to produce its own electricity while using steelmaking-derived products.
AHMSA plans to roll out Caterpillar’s technology into other 12 electricity plants. The company expects that it will have enough electricity to supply its mining companies, allowing it to stop purchasing electricity from outside energy producers.