Ternium, Tenaris to jointly build power plant

Aug 20, 2013 | 01:08 PM | Rodrigo Alonso

Tags  Ternium, Tenaris, Tecpetrol International, joint venture, power plant, Paolo Rocca, Enrique Pena Nieto, Nippon Steel electricity

MEXICO CITY — Ternium SA and Tenaris SA have entered into a memorandum of understanding with Tecpetrol International SA to jointly build and operate a natural gas-fired electric power plant in northern Mexico’s Nuevo León state.

The plant will supply energy to both Ternium and Tenaris, which have steelmaking operations in Mexico.

Luxembourg-based Ternium will own 48 percent of the joint venture, called Techgen SA de CV, while Buenos Aires, Argentina-based Tecpetrol will hold 30 percent and Luxembourg-based Tenaris the remaining 22 percent.....

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