It is learnt that Italian steel producer Beltrame's plant in Argentina has become capable of producing thick coils and is the second plant in Latin America to produce thick coils.
The first phase of the plant, which cost USD 250 million, 50% of which was provided by the Central Bank of Argentina, will be able to produce 300,000 tonnes to 500,000 tonnes per year.
The second phase will cost USD 250 million and will be realised between 2013 and 2015, while the third phase will cost USD 600 million and is planned to start in 2014.
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