New Delhi, Aug 4 (UNI) Steel giant ArcelorMittal today said it plans to construct a new steel mill in Mexico with an investment of 600 million dollars.
The plant will produce carbon steel and bars including rebar, merchant bar quality and special bar quality products that will principally serve the construction and automotive sectors, a company statement said.
The facility will have a capacity of one million metric tonnes of billets per year. It will include a new bar rolling mill with a capacity of 5,00,000 metric tonnes.
This additional production will be directed to Mexico's domestic market.
''Our plan calls for an investment of 600 million dollars. We are presently evaluating potential sites for the mill in Mexico.
The decision concerning the final location will be based upon a number of factors including logistics, supply chain and the availability of sufficient resources to run and operate the plant efficiently and responsibly,'' said ArcelorMittal's Group Management Board Member Gonzalo Urquijo.
UNI SR MP GC1730