Steel producer Ternium plans to spend around $1 billion on expanding its plant in northern Mexico, a top executive announced Feb 16, during a call to discuss fourth-quarter results.
"The company is in the final stage of launching a new expansion initiative to complement all these capabilities we have in the Pesqueria facility," said Maximo Vedoya, Ternium's Chief Executive said.
The investment will go towards expanding a Mexican plant located near Monterrey known as Pesqueria, a facility dating back to 2013 which recently added a hot-rolling mill to serve the automotive, appliance and construction sectors.
All the steel slabs processed at the Pesqueria plant move through the Port of Brownsville. In 2021, the port transported nearly 4 million metric tons of steel. Under construction is a major terminal development at the port to maximize the efficient loading of open-top gondola railcars for steel slab shipments to feed Ternium’s recently expanded mill in Pesqueria.
On-port rail service is provided by the Brownsville Rio Grande International Railway, operated by OmniTRAX. The shortline railroad connects with Kansas City Southern de Mexico for steel slab shipments to the hot rolling mill operations at Pesqueria.
