Colombian steelmaker Acesco said it will invest $6 million in a new galvanized steel product, a media report from El Heraldo said.
The company said it will commence the investment by 2021, which will help it convert its existing galvanizing lines to produce an enhanced steel product, called Metalum. Acesco said Metalum is a galvanized steel that uses an additional layer of coating, which gives it increased strength.
In addition to supplying the domestic market, Acesco expects to export the product to Chile, Peru, Ecuador and the US. Despite not providing a specific timeline to increase galvanized exports, Acesco estimated it could increase exports between 30,000 mt to 60,000 mt.