The investment followed confirmation that Lázaro Cárdenas, Michoacán, home to ArcelorMittal Mexico’s primary steelmaking operations, had been named as a Special Economic Zone. The programme will enable ArcelorMittal Mexico to meet anticipated increased demand requirements from domestic customers, realise in full the operation’s productive capacity of 5.3 million tonnes and significantly enhance the proportion of higher-value added products in its product mix.
The main investment is the construction of a new hot strip mill, with the first hot rolled coil scheduled to be produced in 2021. A nine-month ramp up curve will then begin in order to reach projected production of 2.5 million tons annually. Coils from the new hot strip mill will be supplied to domestic, non-auto and general industry customers. Up to 2,000 people have been employed, working in different assembly and engineering tasks, directly impacting the economy of the region. With the construction of the new hot strip mill, ArcelorMittal reaffirms its long-term commitment to Mexico.