Steel producer Sipar, a subsidiary of Gerdau, announced this week that they will invest over US$184.34 million in the construction of a new production plant on the border between the towns of Perez and Zavalla, west of Rosario, Argentina.
The new plant will begin operations in 2016 and the scrap dealers in the region will be the main suppliers of raw materials to the Company, which will significantly increase its capacity.
The company also announced that the new venture will generate 100 new jobs directly and another 500 indirectly. The new facility will be located on land that the Brazilian group acquired in 2006.