ArcelorMittal announces $1.0 billion three-year investment programme in Mexico
It is focused on building ArcelorMittal Mexico’s downstream capabilities, sustaining the competitiveness of its mining operations and modernising its existing asset base.
The programme is designed to enable ArcelorMittal Mexico to meet the anticipated increased demand requirements from domestic customers, realise in full ArcelorMittal Mexico’s productive capacity of 5.3 million tonnes and significantly enhance the proportion of higher-value added products in its product mix, in-line with the Company’s Action 2020 strategic plan.
The main investment will be construction of a new hot strip mill. Construction will take approximately three years and, upon completion, will enable ArcelorMittal Mexico to produce c. 2.5 million tonnes of flat rolled steel.
Coils from the new hot strip mill will be supplied to domestic, non-auto, general industry customers.
Further investments will be made at Lázaro Cárdenas to improve the quality and productivity of the asset base, with additional investment in the group’s Mexican mining operations. ■