Ternium Boosted Colombia Steel Plant Capacity by Three Times
Posted on 24 February 2021
Luxembourg-based steelmaker Ternium S.A. announced successful completion of expansion works at its Palmar de Varela, Colombia steel plant. The plant has commenced production of steel wires and rebars.
According to sources, the company had invested a huge sum of around $270 million in upgrading the plant and turning it into one of the most modern steel mills in the region. The investment has boosted the plant’s steel output by almost three times. The plant’s output capacity now stands at nearly 740,000 metric tons, as compared with the earlier capacity of approximately 220,000 metric tons per year.
The expanded mill facility is being designed to consume billets produced in the region, including steel made from scrap at electric arc furnace (EAF) mills. The plant provides numerous opportunities to separate and classify surplus ferrous materials, using closed-loop techniques. Moreover, the expanded plant provides additional local employment and also contributes to the economy, said Carlos Alberto Salazar, director of sustainability of Colombia-based Camacol Antioquia.
The startup of the expanded mill facility was originally scheduled to be held in April last year, but was postponed due to Covid-19 pandemic.Source : Scrap Monster