Industrias CH (ICH) announced to the Mexican stock exchange that its construction project to build a steel mill in Rio Bravo, Tamaulipas is still in the "planning phase" as it is in the midst of negotiations with potential suppliers.
The firm further detailed that it has not yet reached a 30 percent advancement in the project and that it is currently working on environmental impact studies as well as filing paperwork to obtain all licenses and permits required for the venture.
ICH is a Mexican steel company that has plants in Mexico, the US and Canada. Its main product lines are special steels, welded pipes, merchant bars, structural sections and rebar.