Colombia-based Aceros del Oriente will build a new steel plant in Alto Paraná, Paraguay, with an investment of $32.73 million, according to local media reports. The investment will be supported by the National Export Council.
The plant will have a production capacity of up to 17,000 mt of steel per month for the construction, automotive and shipbuilding industries in both domestic and international markets. In the initial phase, the plant is expected to create 350 jobs. The company plans to use scrap as raw material and clean and renewable sources for energy.