# Simec invests $300M to double steel mill capacity in Pindamonhangaba

Mexican group Simec announced a $300 million investment to double capacity at its steel mill in Pindamonhangaba, São Paulo, from 500,000 to 1 million tonnes per year, with completion expected by mid-2024 and 450 new jobs.

- Type: Expansion
- Announced: 2022-06-30
- Where: Pindamonhangaba, São Paulo, Brazil
- Value: $300.0M
- Jobs: 450
- Starts operating: Jul 2024
- Status: announced
- Capacity: 1 million tonnes of crude steel per year
- Products: crude steel (billets), straight and rolled rebar, wire rods
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [SIMEC](https://endata.com/companies/20209.md)

## Sources

- [valorinternational.globo.com](https://valorinternational.globo.com/business/news/2022/06/30/simec-to-invest-300n-in-steelmaker-in-sao-paulo.ghtml), 2022-06-30: "The Mexican group Simec, the third-largest long steel producer in Brazil, unveiled Thursday an investment of $300 million to increase twofold its steel mill located in Pindamonhangaba."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.