Siderperu, Gerdau’s Peruvian subsidiary, has begun operations at its new 40,000mt per year steel plant in Lima, Peru.
The plant, which was developed at a cost of 40,000mt per year will manufacture electro-welded meshes, wires, and cold-rolled steel rebar to produce steel nails for the construction and mining industries, Siderperu noted in a statement on Tuesday.
The scrap produced during the manufacturing process at this plant will be transported to Gerdau’s industrial complex in Chimbote as raw material for crude steel production.
The Chimbote mil has a capacity of producing 750,000mt of raw steel per year, the company said adding that around 400,000mt of scrap is used at this mill to produce crude steel.
The company’s steel production rose by 7.9pc to 517,883mt in 2019, from 480,154mt produced in 2018.