Mexican steel company Talleres y Aceros, (TYASA), which competes in the steel sheet market with Ternium, will invest in a special steel rolling mill (SBQ) with 350,000 metric tons of annual capacity to produce steel for the automotive, construction, and engineering industries. and energy in the southern state of Veracruz, reported the Italian machinery producer Danieli Group.
“The new greenfield plant is expected to come online in mid-2025,” Danieli reported in a press release. The amount of the team's investment was not disclosed.
Headquartered in the Mexican state of Veracruz, the new mill will be installed in the city of Ixtaczoquitlán, Veracruz. The new plant will be located 270 kilometers (168 miles) east of Mexico City, the largest consumer market in the country.
TYASA produces billet, steel bars, commercial profile, hot rolled, cold rolled and galvanized sheet. It also manufactures rebar and wire rod products with which it competes in the market against ArcelorMittal México, Deacero, Gerdau Corsa, Grupo Acerero, Grupo Simec and Ternium México.
TYASA has two steel mills, three production plants where it employs 2,300 people and four large distribution centers that supply 4,200 points of sale.
TYASA 's investment adds to those announced by Ternium of $3.2 billion for a new mini mill of 2.6 million metric tons (mt) that will begin operations in 2026 in Nuevo León. Grupo Acerero will invest $400 million for a new 1.0 million mt steel mill in the central state of San Luis Potosí, it is estimated to begin operations in 2025.
Grupo Deacero announced an investment of 1.0 billion for the next three years. During that period it will build a new steel plant in the northern state of Coahuila of 1.2 million mt and will reinforce its production in its steel plants in the central state of Celaya, Guanajuato and in the northern city of Saltillo, Coahuila.