Ecuadorian long steel producer Andec received a $24.5 million loan from the nation’s finance corporation, Corporacion Financiera Nacional (CFN), to boost its activities through a new distribution and logistics center in the city of Yaguachi, near Guayaquil.
The loan is expected to boost production at the company’s mill in the south part of Guayaquil. Andec has a 250,000 mt/year capacity.
As previously reported by SteelOrbis, the new distribution and logistics center will help the steelmaker strengthen and improve access to clients in the industrial areas of Ecuador, reducing delivery times and allowing clients to take shipments themselves.
The new distribution center will have a 5,000 mt capacity and will be able to ship 500 mt of steel per day.