ArcelorMittal said Aug. 4 that it plans to build a new steel mill in Mexico where it will construct carbon steel and bars primarily for the construction and automotive sectors as well as Mexico's national housing and infrastructure plan.
The facility will have the capacity to produce 1 million metric tons of billets annually and 500,000 metric tons of bar. The mill will utilize electrical steel making equipment and energy-efficient technology, the company said.
The company plans to invest US$600 million in the plant and is still evaluating possible sites, says Gonzalo Urquijo, a member of ArcelorMittal's group management board.
"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 Urquijo in a statement.
The company also is awaiting regulatory approvals to begin construction.