Steel Mills
September 29, 2017
ArcelorMittal, Ternium Invest in Mexican Steel
Written by Sandy Williams
Two new hot strip mills are in the works for the Mexican steel industry. Both ArcelorMittal and Ternium announced plans this week to make investments in their facilities to meet growing demand.
The announcements coincide with decrees by Mexican President Enrique Peña Nieto creating three special economic zones that offer tax breaks to companies investing in the regions. The areas include Lázaro Cárdenas, Puerto Chiapas in Chiapas state, and Coatzacoalcos in the Gulf coast state of Veracruz. Nieto hopes attracting business to the region will help alleviate poverty and provide up to 12,000 jobs in the next several years.
