The Mexican steel producer, TYASA, announced investments of $450 million to increase its production capacity and to diversify its portfolio of products.
According to its president, Oscar Chahin, as quoted by the local press, the investment includes a special steel bars rolling mill, with a 350,000 mt per year capacity that is expected to start operations still in 2025.
The new production will replace imports, chiefly from the US, Canada, and Asia, of high value-added products destined to the auto industry, covering an estimated 40 percent of the Mexican domestic market including other industrial sectors, mining, and civil construction.
With a production plant in Veracruz and distribution centers in Silao, Merida, and Arriaga, the focus of the company is its expansion in the domestic market, but it is also considering the export of part of its new production.
