Tenaris SA (Tenaris) has announced that it plans to increase its production capacity by installing a small diameter rolling mill up to 7in with an annual production capacity of 450,000tns 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 USD 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 USD 450 million per year over the next three years.
