Ternium S.A. plans to invest a total of $4.2 billion over the next five years to build a flat-product steel plant in Mexico. The Monterrey facility would be the second expansion in Mexico by closely held Techint Group, which owns a controlling stake in Ternium.

The initial phase involves the design and construction of a state-of-the-art flat-rolled mini mill intended to produce 2 million tons per year of hot-rolled coils. The facility will include a direct-reduction unit, two electric arc furnaces, two ladle furnaces, a thin-slab caster and a hot-strip mill. First-phase total investment is expected to be approximately $2.7 billion with full production within the next four years.