“This decision is a significant milestone for our company as we continue to integrate our downstream manufacturing capabilities to serve all our customers in Mexico while solidifying our position as a leading player in the USMCA region,” said Ternium chief executive officer Máximo Vedoya. 

Ternium in February announced plans for the electric-arc-furnace-based slab plant, which also will include a 2.1-million-ton direct reduction plant and port facility. 

Ternium said the state-of-the-art facility will complement the company’s new hot rolling mill in Pesquería, which began operations in mid-2021, as well as its cold mill, which is under construction. Work on the slab mill is to begin in December, with commissioning set for the first half of 2026. 

“The value chain in Mexico is rapidly addressing and responding to the growth  opportunities presented by the nearshoring of manufacturing capacity. We are confident that the skilled workforce and supportive business environment in the country will enable us to achieve our ambitious goals. We look forward to working with the government, communities, and other stakeholders to continue fostering economic growth, job opportunities, and the region’s prosperity,” Vedoya said.