Techint plans $1B Mexican power plant

|By:, SA News Editor

Mexico's Techint Group - the steel and energy conglomerate which includes steel unit Ternium (TX), steel pipes provider Tenaris (TS) and energy arm Tecpetrol - plans to invest $1B to build a natural gas-fired power plant in Nuevo Leon state.

The venture will generate 850-900 mw to supply electricity to the group’s plants in the country.

The plant "contributes to the long-term competitive position" of Techint’s industrial activities and will strengthen Mexico’s electricity system, CEO Paolo Rocca says.