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MEXICO CITY – Steelmaker Altos Hornos de Mexico (AHMSA) said it was investing $83 million in a new mill that will produce high-tensile steel for the oil industry.
A contract has been signed with Siemens VAI, a unit of German engineering giant Siemens, for the mill’s construction, AHMSA said in a filing with the Mexican Stock Exchange.
Siemens VAI will provide technology that allows the production of high-tensile steel with a low hydrogen content, the type of steel used by the oil industry and manufacturers of pipelines, among other users, AHMSA said.
The contract calls for Siemens VAI to supply and install the mill’s equipment, such as furnaces and vacuum pumps, as well as “components for the electrical and automation systems for the new degasification process,” AHMSA said.
The mill, which is expected to start operating in October 2015, will have the capacity to process 2 million metric tons annually of liquid steel, the steelmaker said.
Siemens VAI will train the mill’s workers to operate and maintain the facility’s equipment, AHMSA said.
AHMSA was founded in 1942 and is Mexico’s largest integrated steel company, with a production capacity of more than 3.5 million tons of liquid steel annually.
Altos Hornos de Mexico employs about 19,000 people.
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