BNamericas quoted Mr Juan Manuel Lesmes executive director of national steel association Andi Fedemetal as saying that Colombia will be self sufficient in steel production by 2013, thanks to investments underway. He said that the forecast is based on investments being announced in the country right now in long and flat steel products.

Mr Lesmes pointed out a USD 1.4 billion investment for a rolled steel plant announced recently by Brazil's Votorantim Metais and Colombian steelmaker Acesco. He added that "Those investments are elevating us to self-sufficiency, which doesn't mean protectionism. We will also continue free trade."

He said that, currently, Colombia only faces a shortage of flat products but the deficit will be filled as soon as the Acesco Votorantim project is fired up. The project is designed to supply 800,000 tonnes per annum of rolled products needed on the domestic market and could eventually export an estimated 500,000 to 600,000 tonnes per annum.

Acesco currently imports finished hot rolled steel and runs it through a cold process. The new plant is expected to generate savings of close to USD 700 million for the country, which is what hot rolled imports currently cost.

Mr Lesmes said that another project that will promote a self sufficient Colombia is the new cold rolled plant that Corpacero is about to launch in northern Barranquilla city.

Colombia's apparent consumption is 3.1 million tonnes per annum and the country imports 1 million tonnes per annum of steel, where 80% represents rolled steel and steel coils, mainly from Brazil, Venezuela, Mexico, China, Japan, Russia and Ukraine.