Ternium and Forza Steel to invest US$240 million in the Port of Brownsville
BROWNSVILLE, TX – The Port of Brownsville, Texas, is attracting investment from companies located in Nuevo Leon, such as Ternium and Forza Steel. These two companies will invest more than US$240 million dollars together for two different projects at the port.
Ternium, one of Mexico’s main steel companies, will invest US$180 million in the construction of a maritime terminal to receive iron ore in Brownsville. The ore will be transferred to Ternium’s plant in Pesquería, Nuevo León, for processing.
The terminal will occupy some 63 hectares and will have a dock that will allow it to handle larger Panamex-type ships. The Port of Brownsville also contracted a third party to extend the railroad tracks that will allow Ternium to move more cargo.
Forza Steel, a Monterrey-based galvanized steel pipe manufacturer, will invest US$60 million to build a new plant at the port. The plant will be focused on serving the U.S. market and is expected to be operational by 2024.
In addition to the Ternium and Forza Steel investments, the Port of Brownsville is preparing to build its first industrial park. The park will be located on a 118-acre site and is expected to attract companies from a variety of sectors, including manufacturing, logistics and services.
“We are very excited about the opportunity to work with Mexican companies to develop the Port of Brownsville,” said Tony Rodriguez, director of Cargo Services and Surcharge Permitting and Free Trade Zone Administrator for the Port. “We believe Brownsville is an ideal location for companies looking to expand into the U.S. market.”
