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Mexican Simec Steel Group doubles investment in Brazil

RIO DE JANEIRO, BRAZIL - The company plans to invest US$300 million in its plant located in Pindamonhangaba (SP) to increase its annual production from 500,000 to 1 million tons by 2023.

Confident in the increased demand for steel in Brazil in the real estate construction sector and infrastructure works in the coming years, Mexican steel group Simec, which has been operating in the country since 2015, announced a plan to invest US$300 million (R$1.56 billion) to expand.

The amount will be spent on doubling its plant located in Pindamonhangaba, São Paulo interior.

Simec's . . .

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