Indian ArcelorMittal explores investment for an additional 1 billion dollars in Mexico


President Andrés Manuel López Obrador announced that he met with Lakshmi N. Mittal, owner of the Siderúrgica Lázaro Cárdenas Las Truchas, in Michoacán.

President Andrés Manuel López Obrador received Lakshmi N. Mittal, owner of the Siderúrgica Lázaro Cárdenas Las Truchas, in Michoacán, who said he is exploring the possibility of investing another 1 billion dollars in that place.

Through his Twitter account @lopezobrador_ the head of the Executive said that the “most important in the world in steel production”, has in process an investment of 1,000 million dollars in Las Truchas, of which he already exercised 600 million and are missing by exercise 400 million.

The Mexican president said that in Lázaro Cárdenas ArcelorMittal’s steel mill generates 8,000 direct jobs and around 50,000 indirect jobs.

“In this conversation we are reaching an agreement to explore the possibility of investing more in Mexico, at least another 1,000 million dollars more in Lázaro Cárdenas and in other productive activities, so that jobs continue to be generated in our country,” explained López Obrador .

The Chief Executive offered the security of his government, “as we do with all national and foreign companies,” that all investments are going to be protected and that Mexico is an investment option.

In addition, “we want to strengthen national production so that there are jobs and at the same time strengthen the domestic market,” said López Obrador.

During the meeting, held at the National Palace, were Secretary of Economy, Graciela Márquez Colón; the head of the Office of the Presidency, Alfonso Romo Garza, and the coordinator of Advisors to the Presidency, Lázaro Cárdenas Batel.

In addition to the under secretary of Economy, Francisco Acevedo Fernandez, and the Chief Executive Officer, of ArcelorMittal Mexico, Víctor M. Cairo.

ArcelorMittal is one of the largest steel companies worldwide, with a workforce of almost 199,000 employees in more than 60 countries, according to the company.

Source; el economista

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