NUEVO LEON – The steel company Ternium intends to allocate a sum of US$3.2 billion to enhance production at its Pesquería Nuevo Leon facility and capitalize on the global steel industry’s demand.

“It represents Ternium’s most substantial investment to date, and it will be directed towards the Pesquería location,” stated Máximo Vedoya, Ternium’s global executive president.

Due to the relocation of production chains from Asia to Latin America, a trend known as nearshoring, Nuevo Leon has emerged as one of the states successfully attracting investments.

Emmanuel Loo, the Undersecretary of Economic Development of Nuevo Leon, anticipates that approximately 100 to 150 new companies will establish operations in the region in the near future. This area has also been chosen by Elon Musk, Tesla’s co-founder and CEO, as the site for his fifth manufacturing plant worldwide and the first in Latin America.