Peruvian long steel producer Aceros Arequipa plans to invest $120 million to increase output at its Pisco mill by 40 percent in the next two years.
The mill, which produces 1.2 million mt/year of finished steel, is eyeing the country’s growing public investments in infrastructure.
The company said Thursday in a filing at the country’s securities exchange commission, SMV, the project is currently being evaluated and is subject to the approval of its board, as it determines the investments and the profitability the initiative may generate.
A company executive told local media its steel sales could grow 7 percent in 2018, year-on-year, as long as infrastructure projects are implemented and the Peruvian economy grows between 4 and 4.5 percent.