Ternium SA has announced that it will invest $4.2 billion over five years to build a flats plant in Mexico.
The first phase of the project will include a $2.7 billion mini-mill, built near Monterrey, which will be fully operational within four years.
The second phase of the project involves a $1.5 billion investment to build a cold rolled and galvanizing mill, to be completed by 2013.
Ternium said it is making the investments to meet growing demand in Mexico and in other Latin American countries for flat products. Ternium SA is the second-largest steelmaker in Latin America.