Gerdau’s Peruvian subsidiary, Siderperu, said late last week it plans to invest a combined $21 million in several projects.
The company said in a document filing it plans to invest $7 million to modernize equipment at its tubing mill. The investment will cover improvements in its coil longitudinal cutting line and will help it acquire a crane.
Sideperu will invest another $6 million at its steelworks area. The investment is aimed at improving its scrap processing and energy efficiency processes.
Additionally, Siderperu will also spend $8 million at its longs rolling mill at different productive lines.
Siderperu said the investments aim to improve the company’s output efficiency.