Simec, a Mexican steel group, planned to invest about US$50 million to expand and renovate its Cariacica plant in Brazil, increasing its annual capacity from 600,000 tons to 800,000 tons, as well as creating additional 100 jobs, including 30 direct and 80 indirect jobs.

Simec would also install a degassing oven for gas treatment and the upgrade of automatic casting equipment and rolling mills.