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Mexico’s steel industry will invest US$3 billion over the next two years.
Release date:
2015-01-30
According to Mexico’s Milenio newspaper, a top official at the Mexican Steel Industry Chamber (CANACERO) stated that, in response to the demand spurred by the energy reform, the Mexican steel sector will invest US$3 billion over the next two years. He noted that, given the specialized nature of the products in demand, the industry’s outlook is highly promising, as steel is an essential raw material for extraction, production, and transportation across the energy sector.
Industry players believe that natural gas pipelines present significant opportunities, with demand for the National Electric Power Commission’s pipeline projects expected to double. Annual steel production is projected to reach 300,000 tons, and consumption growth in 2015 could exceed 3.5%, outpacing that of Brazil, Colombia, and Argentina.
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