Andre Gerdau Johannpeter, CEO of Gerdau, said: "The Argentine market is expected to grow by 2.5% in national product at the end of 2017, our investments continue during this second year of the Macri Government and this benefits us."
Gerdau's new 650,000 metric meter Electric Arc Quarry began operations in June in the Perez area of Santa Fe.
The total investment is $232 million, which will increase the capacity of the country's long steel production by 35%.
"It will take about 6 months to 1 year for the studies to stabilize and settle down and will be regular," Johannpeter said.
According to Johannpeter, the new Electric Arc Quarries will be diverted to existing production centers where rebar, scrap and billets are kept.
The company's goal for Electric Arc Quarries will be to end the import of billets costing $100 million.
Gerdau serves many parts of Latin America. The company also provides work within Brazil, including Argentina, Chile, Colombia, Dominican Republic, Mexico, Peru, Uruguay and Venezuela.
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