Mexican steel producer TYASA has unveiled plans for a $450 million investment aimed at increasing its production capacity and diversifying its product portfolio.
According to Oscar Chahin, TYASA’s president, the investment will fund the construction of a special steel bars rolling mill, with a production capacity of 350,000 mt per year, which is expected to begin operations in 2025.
The new production line will focus on producing high-value products primarily for the automotive industry, aiming to replace imports, mainly from the US, Canada, and Asia. It is expected to cover around 40% of the Mexican domestic market, serving industries such as mining and civil construction.
With a production plant in Veracruz and distribution centers in Silao, Merida, and Arriaga, TYASA's primary focus is on expanding its presence within the Mexican market. However, the company is also exploring the possibility of exporting part of its new production.
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