In addition to the 3.54 billion dollars destined to build its plant in Pesquería, Nuevo León, Ternium intends to inject another billion to expand it.

The president of Mexico reported on a meeting held with the Italian-Argentine businessman Paolo Rocca, CEO of the Techint Group, the steel company's holding company, in which the main topic revolved around the desire to expand the factory in the coming months.

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"They came to tell me that they are going to expand their plant in Nuevo León and that they are going to invest a billion dollars. They are dedicated to the manufacture of pipes and the automotive industry, to the supply of steel for the automotive industry, and in their studies or market analysis they see a promising future for Mexico in the economy, in the commercial, they came to inform me about that," said the chief executive.

By generating 12.4 million tons of crude steel annually, Ternium is the main producer of flat steel in Latin America, a region where, in addition to having plants, it has service centers and a distribution network that covers the demands of sectors such as the automotive, appliances and construction, to name a few.

If officially confirmed, Ternium's capital injection would be added to the more than 300 million dollars of Foreign Direct Investment (FDI) that are foreseen for Nuevo León during the first quarter of this year.

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In this regard, Iván Rivas, Secretary of Economy in the entity, specified that the arrival of eight companies is guaranteed, an amount that could increase to 20 by the end of March.

“We already have confirmation for about 300 million dollars and the creation of more or less 10,000 jobs. However, we are sure that by the end of the first quarter we will reach 20 companies”, he stressed.

Foreign investment could reach the municipalities of Apo­da­ca, Gua­da­lu­pe, San­ta Ca­ta­ri­na, Gar­cía, Sa­li­nas Vic­to­ria and Ciénega de Flores.

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Original note