The Mexican unit of the Italian-Argentine steel company Ternium reported that the President of the Republic, Andrés Manuel López Obrador, and the elected president Claudia Sheinbaum were notified of the expansion of their operations in the northern city of Pesquería, in the Mexican state of Nuevo León that will require an investment of $4.0 billion, an amount that is added to another $4.0 billion invested previously.
“There are almost $4 billion for completely new plants” to produce steel slab, rolled sheet and galvanized sheet to meet the demand of the automotive industry, white goods, construction, electric motors, pipes and for the entire broad chain of steel consumers, he published today the national press, citing the CEO of Ternium, Máximo Vedoya.
Those $4 billion are in addition to the $4 billion invested in the past, Vedoya said.
Last February, SteelOrbis published that Ternium's investment to meet steel consumption for the automotive industry would be $6.8 billion in the period 2010-2025.
A part of the investment was in the Ternium Industrial Center, in the northern city of Pesquería, Nuevo León, located 32 miles east of the state capital, Monterrey, and 144 miles southwest of the border city of Laredo, Texas. This steel complex began construction in 2010 and in 2013 it began operations with an investment of $1.2 billion. In 2022, it announced another investment of another $1.0 billion for a new cold rolling mill, a galvanizing line, a roll pickling (push-pull) line and new finishing lines.
In June 2023, Ternium announced the historic investment for a new $3.2 billion steel mill to produce 2.6 million metric tons (mt) of steel slab per year and $1 billion for new production lines. Subsequently, that amount was updated to $3.5 billion due to inflationary effects and the exchange rate parity of the euro against the dollar.
With the update of Vedoya's investment, the plan is $8 billion for the period 2010-2026.
Two weeks ago, SteelOrbis published that the new Ternium steel complex in Mexico installed its first production line of 550,000 metric tons (mt) and the rest of the production lines, such as the new steel mill of 2.6 million mt of slabs, will come into operation mid-2026.