++monterrey++ Steel mega-plant being built in Nuevo Leon
Nuevo Leon, Monterrey.- The foundations for a gigantic steel plant to meet automotive industry needs throughout Mexico and expected to attract investment by several assemblers in the Region have been laid at the State of Nuevo Leon.
With an initial investment for US$400 million, expected to reach US$2.3 billion, the Italian-Argentinean consortium Ternium started such construction at Pesqueria, on a 437 hectares plot of land.
The plant will have an initial annual capacity to produce 400,000 tons of steel components not currently produced in Mexico, 40% of the million tons assemblers must import every year.
In its final stage, the plant is expected to produce one million tons, Julian Eguren, Ternium CEO in Mexico, informed.