Grupo Fonderia, the controller of Grupo Acerero (GASA), informed SteelOrbis that the construction of its new 650,000 metric tons (mt) per year steel mill for manufacturing sheet steel plate is 72.0 percent complete, which will allow commercial production to begin in July of next year, if there are no problems.
“The Beskar project is already more than 72 percent complete (in the construction of the project). It is estimated that it will begin commercial operations in July 2025,” Nathan Moussan, financial advisor to Grupo Fonderia through his company Kpitalia, said in a brief interview with SteelOrbis.
Moussan spoke after Grupo Fonderia rang the iconic bell to start operations on the Institutional Stock Exchange (BIVA) for its issuance of MXN 1.2 billion ($60 million) of debt securities to finance its new steel mill called Beskar. The debt has a partial payment guarantee of 50 percent from IBD Invest (Inter-American Development Bank, IDB).
Beskar will require $150 million investment for an electric arc furnace and a continuous slab caster that will be used to produce steel plate.