Despite previously expressed hesitation regarding the launch of a Mexican HDG mill in partnership with the Japan-based JFE Steel company, Nucor remains committed to building the $270 million joint venture plant.
Nucor first announced the joint venture project with JFE Steel in June 2016. Located in central Mexico, the plant is expected to coat 400,000 mt of sheet per year, with each company supplying equal amounts of substrate.
Nucor expressed hesitation in the project in early February 2017, but is now moving forward with groundbreaking at the site by early May 2017.
According to the press release, Nucor’s CEO John Ferriola is confident in the venture’s success not only due to the strong partnership with JFE Steel but also on the strength of the growing automotive market in Mexico.