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ternium (New York Stock Exchange: TexasIt said on Tuesday it will build its new $2.2 billion electric arc furnace steel plate mill at its new hot-rolling plant site in Pesquería in northern Mexico.
The steelmaker said the 2.6 million metric tons/year facility would be completed Hot rolling plant 4.4 million tons/year as well as downstream project at the same site, which is currently under construction.
“Mexico’s value chain is quickly addressing and responding to the growth opportunities presented by proximity to manufacturing capacity,” said CEO Maximo Vidoya.
Ternium (TX) first announced the project in February, saying it wanted to create more steel supplies in Mexico to meet the requirements of a US-Mexico-Canada agreement to be implemented in 2027.
The company said it expects construction to begin before the end of this year, with operations expected to start in the first half of 2026.
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