ArcelorMittal, the world's largest steelmaker, has announced its intention to construct a new steel mill in Mexico, directed principally to serve the construction and automotive sectors.
The new steel plant, will produce carbon steel and bars including rebar, merchant bar quality and special bar quality products, with an annual capacity of one million mt of billets, and with a capacity of 500,000 mt per year at its new bar rolling mill. This additional production will be directed to the domestic market, mainly to produce high added value steel products, but also to support the Mexican government's National Infrastructure Plan and Housing Program.
The new facility will incorporate state-of-the-art technology and steel processing to ensure it is both energy-efficient and environmentally responsible.
Commenting on the announcement, ArcelorMittal management board member with responsibility for long products, Gonzalo Urquijo, said, "Our plan calls for an investment of $600 million. We are presently evaluating potential sites for the mill in Mexico. The decision concerning the final location will be based upon a number of factors including logistics, supply chain and the availability of sufficient resources to run and operate the plant efficiently and responsibly."
The commencement of construction will be subject to the receipt of appropriate regulatory approvals by the relevant local authorities.