$20 Million Invested by Steel Maker in El Salvador
The Corporación Industrial Centroamericana (Cornica) makes the investment to update its production facilities.
Tuesday, June 23, 2009
Investment in new forging equipment, continuous casting, and fabrication of steel and iron, among others, will allow the company to increase its capacity to produce steel from 140,000 tons currently to 250,000 tons, according to the General Manager of Cornica, Carlos Francisco Alvarado.
The processor giant will invest $80 million in equipment upgrades at its plant in Belen, Heredia, in order to produce a new chip.
The opening of the branch is in accordance with the company's expansion plan for Central America.
A Peruvian spinning mill is to invest $15 million in Las Mercedes Industrial Park, and soon three other companies from the call center and textile sectors will be setting up there too.
The multinational company, a global leader in welding equipment, is considering expanding to the region via Panama.
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