Latin America-based steelmaker Ternium has announced that, in order to further develop its industrial system to better serve its customers, it plans to install a new hot rolling mill at its Pesquería industrial center in Mexico and to build a new steel reinforcing bar manufacturing facility in northern Colombia.
The company stated that the new hot rolling mill will have an annual production capacity of 3.7 million metric tons. With a total investment of $1.1 billion, the new line would be operational by the second half of 2020. The investment for the new hot rolling mill will constitute a significant technological upgrade to the country’s steel production capacity, enabling the expansion of Ternium’s product range to encompass a broader dimensional offering and the most advanced steel grades, with the aim of replacing high-value-added steel imports.
Meanwhile, the new rebar mill will have an annual production capacity of 520,000 metric tons and expand Ternium’s rebar production capacity in Colombia to 720,000 metric tons. With a total investment of $90 million, the mill would be completed by the second half of 2019.