Ternium to invest $3.2 Billion USD in Monterrey I Nuevo Leon, Mexico
Ternium, a leading steel company, has announced its plans to invest $3.2 billion USD in the construction of a new steel mill in Monterrey I Nuevo Leon, Mexico. The investment was unveiled by Ternium CEO, Máximo Vedoya, during a press conference held today.
The new steel mill is expected to significantly enhance Ternium’s production capacity and strengthen its presence in the Mexican market. The facility will be equipped with state-of-the-art technology, making it the most technologically advanced steel manufacturing complex in Latin America, and will create 1,800 new jobs in the region, contributing to the local economy and providing opportunities for growth and development.
Governor of Nuevo Leon, Samuel García, who was present at the press conference, expressed his support for Ternium’s investment, highlighting the positive impact it will have on the local community. He emphasized that the project will not only generate employment opportunities but also contribute to the development of infrastructure in the area.
The company’s decision to expand its presence in Nuevo Leon reaffirms its confidence in the Mexican market and its long-term growth prospects. “We are excited to announce this significant investment in a new steel mill in Mexico,” said Maximo Vedoya, CEO of Ternium. “This project aligns with our strategic vision and demonstrates our commitment to driving innovation, fostering economic development, and creating sustainable value for our stakeholders. We believe in steel and we believe in Nuevo León”, concluded Vedoya.
The event was also attended by the Secretary of Economy of the State Government of Nuevo León, Iván Rivas, who emphasized that the competitive advantages offered by the state are crucial for the expansion of companies in the region.
“Even companies that have been established in Nuevo León for decades find the optimal conditions here to further their expansion. Out of the 141 investment projects, 65 represent expansions, including Ternium’s announcement today, which attests to the resilience and dynamism of our economy,” stated Rivas.
Ternium will work closely with local authorities and relevant stakeholders to ensure the project’s successful implementation, adhering to the highest standards of environmental sustainability and social responsibility.