Spain-based long steel producer Megasa will invest €100 million in 2023 and 2024 in a new preheating furnace and a new rolling mill at its Megasider plant in Zaragoza, according to media reports.
The new rolling mill, which will replace the current one, will be equipped with environmentally-friendly heating technology and is designed to produce a wide range of merchant bars.
The investment will enable the company to expand its product range and improve energy efficiency during current conditions when energy costs are high.
The company’s production totaled 500,000 mt of long steel in 2022, constituting a new record for the company.
