The Reinosa facility, which was shut down in September 2022 due to unfavorable market conditions, resumed production in October 2023, with the goal of responding to automotive and engineering industry demands, which are forecasted to increase in 2024.
During this reactivation, Sidenor reportedly had a plan to build a new 30 kV transmission line to increase power supply to the facility. The company aims to utilize mainly renewable energy sources, with the goal of connecting the plant to eight solar parks in cooperation with local authorities.
The Reinosa facility's equipment modernization program is valued at an estimated €100 million, which, according to the source, will make it one of Europe's leading producers of high-quality long products.
However, Sidenor, which has reportedly not yet made a final investment decision on this issue, is expected to make a final announcement after detailing its plans and assessing the economic sustainability of the project.
Comments
No comment yet.