Grupo Fonderia, the parent company of Grupo Acerero, is making significant strides in the construction of its new steel mill, known as the Beskar project. Currently, the project is reported to be 72% complete, positioning it well for commercial production slated to start in July 2025, barring any unforeseen issues. This ambitious venture aims to produce 650,000 metric tons of sheet steel plate annually, marking a substantial addition to Mexico's steel production capabilities.
Nathan Moussan, financial advisor to Grupo Fonderia through his firm Kpitalia, provided insights into the project's progress. He emphasized the importance of the Beskar project during a recent ceremony at the Institutional Stock Exchange, where Grupo Fonderia rang the bell to commemorate the issuance of MXN 1.2 billion (approximately $60 million) in debt securities. This financing is crucial for bringing the Beskar project to fruition and demonstrates the company's commitment to expanding its operations.
A significant portion of the financing is backed by the Inter-American Development Bank, which provides a partial payment guarantee of 50% for the debt securities. This support underscores the confidence that financial institutions have in the potential success of the Beskar project, as it aims to enhance the production of steel in a competitive market.
The project will require a total investment of $150 million, primarily directed towards the installation of an electric arc furnace and a continuous slab caster. These state-of-the-art facilities will be pivotal in producing high-quality steel plates, which are essential for various applications in industries such as construction and manufacturing. The use of advanced technology is expected to improve efficiency and reduce production costs.
