05 Apr 2019, Radoslav Yordanov, EMIS Editor
FDI in Mexico’s metallurgy sector hits 11-year high in 2018
FDI growth recorded last year was mainly driven by the USD 1bn investment made by ArcelorMittal, world’s largest steelmaker.
Aditya Mittal, CFO of the Indian company, said that the steelmaker invested USD 1bn in the construction of new hot strip mill in the Mexican state of Michoacan despite the steel tariffs imposed by the United States. As a result, ArcelorMittal Mexico’s productive capacity is expected to reach 5.3mn tonnes in 2020.
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