Tenaris S.A. plans to increase its production capacity by installing a state-of-the-art small diameter rolling mill up to 7" with an annual production capacity of 450,000 tons of seamless pipes at its industrial facilities located in Veracruz, Mexico.
The installation of the mill, together with associated iron and steel making and finishing facilities, will require an investment of approximately US $1.6 billion. The mill is expected to begin operations by 2011.
In addition to this investment in Mexico, Tenaris plans to continue to invest in its industrial facilities throughout the world and its capital investments, excluding the new mill in Mexico, are expected to amount to approximately US $450 million per year over the next three years.
With these investments, Tenaris plans to increase its industrial capacity to meet the growing needs of its customers in Mexico and worldwide, as oil and gas drilling activity expands and becomes more complex.
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