Mexico’s Autlan to Invest $150 Million in Power Plants
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Cia. Minera Autlan SAB, North America’s largest producer of alloys used to make steel, plans to spend $150 million to build power plants as Mexico’s energy industry opens to competition.
Mexico’s only producer of ferroalloys and manganese is looking to construct hydropower and wind plants to reduce electricity costs and sell power to third parties, Chief Financial Officer Gustavo Cardenas said in a phone interview yesterday. Autlan has saved around $4.5 million in electricity costs this year after acquiring Cia. de Energia Mexicana SA and its Atexcaco hydroelectric plant, Cardenas said.