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Mexico's Aceros de Tamaulipas (Acertam), a subsidiary of steelmaker Industrias CH (ICH), plans to invest US$350 million in a steel plant in Rio Bravo, located in the northeastern state of Tamaulipas.

Platts Steel Business Briefing learned from the local government that the company will establish an electric arc furnace (EAF) mill for the production of special steel bars, billets and tubing.

According to the state's ministry of economic development and tourism, "capacity at the new mill is expected to be 300,000 tonnes/year, possibly expanding to 500,000 tonnes/year."

Acertam acquired 33 hectares of land "allowing enlargement of production facilities," according to Acertam's plans.

The company did not disclose a time frame, but construction is expected to start soon.

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