Mexican President Mr Felipe Calderón Hinojosa has witnessed the progress of Ternium's construction works in Pesquería Project, a steel complex that shall produce high specification steel products for the automotive industry thanks to an investment of USD 1,100 million.
This plant is a strategic project in terms of the steel industry in Nuevo León and for the country as a whole. The production of 1.5 million tonnes will allow for import substitution, contributing to a better competitiveness of the Mexican industry in global markets.
Mr Calderón said that "Ternium Pesquería Plant represents the most significant single company investment in Nuevo León over the last 10 years."
The Pesquería project includes the Tenigal Plant, which focuses on galvanized steel production and in which the Japanese company Nippon Steel has acquired participation, accounting for an investment of USD 330 million. The new Ternium's cold rolling plant is also included in the project, accounting for a USD 770 million investment.
This complex will open over 600 direct employment positions, out of which 100 will be for engineers and the other 500 will be for technicians, who will be trained in Japan and Germany throughout what's left of 2012. Currently, there are 3,000 people working in the plant construction. The plants, which will start operations in July 2013, represent Ternium's most significant investment in the country.
Mexico's President, along with Mr Rodrigo Medina, Nuevo León Governor; Mr Máximo Vedoya, Ternium's Executive President in Mexico and Mr Carlos Guzmán, ProMéxico General Director, carried out rounds around the installations of this magnificent construction that began works in 2010.
On his visit, Mr Calderón claimed that "This plant is the most modern in the Americas and the first one in Latin America and with it. México will produce steel sheet for cars to stop importing it."
Besides his remark about the thousands of jobs that will be generated, the President appealed to make cars produced with steel sheet made in Pesquería, Nuevo León circulate around the world.
During his speech, Mr Máximo Vedoya, Ternium’s CEO in México, described the scope of this magnificent work, which will contribute to strength our industrial system automotive industry which is faced with extraordinary growth opportunities. He said that "Thanks to the joint venture with Nippon Steel, Pesquería Plant will be provided with the most sophisticated steel technology, complying with the highest standards required by the automotive industry worldwide. There will be a decoil line connected to a Tándem cold mill, and a continuous galvanizing line. The plant will produce 1.5 million tonnes per year, which nowadays are being imported, so this shall contribute to Mexican industries competitiveness."
Mr Vedoya endorsed Techint Organization's commitment the group that Ternium is a part of towards continuing fostering Mexico's industrial development. He said that "The project that Techint Group and Ternium have with Mexico is a long term project of investment, growth for the people, for the industry and for the region. Techint Organization and Ternium have showed commitment towards Mexico, investing in this long term project that implies growth for the population, for the industry and for the region."
Mr Medina highlighted the advances of the project, which will bring about growth for the country and for Nuevo León in particular. He said that "Ternium will always count with my support as State Governor, as well as that of the group of people working with me. The plant is not yet functional, there is much to do. We are willing to work hand n and with you. For as long as the plant is here, we will work side by side with you for this great project to be successful."
Mr Carlos Guzmán Bofill highlighted the relevance of investments like that of Ternium in the country, which allow for increasing domestic automotive production in 1 million units over the following three years.
Source - Ternium
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