Another day, another multibillion-dollar new steel mill is announced.
On the heels of U.S. Steel's announcement of a $3 billion state-of-the-art mill in Arkansas, Nucor announced it would build a new $2.7 billion sheet mill on the Ohio River in Mason County, West Virginia.
The plant will employ about 800 workers. It will serve the Midwest and Northeast markets.
"Following a thorough process to determine the right location for our state-of-the-art, greenfield sheet mill, we are thrilled to make this significant investment in West Virginia and enhance our presence in this important region," Nucor President and CEO Leon Topalian said. "Our new sheet mill in Mason County will have unmatched capabilities that will enable the continued expansion of high-quality, low carbon steels, building on our industry-leading offerings. We are pleased to create hundreds of new, high-paying jobs, and position West Virginia as a leader in clean steel production. We are also excited to create substantial long-term value for investors through this high-return investment, which will help drive Nucor's continued growth."
North Carolina-based Nucor, a major competitor to both U.S. Steel and Cleveland-Cliffs, will be able to make 3 million tons of steel at the new facility, adding to the steelmaking capacity at a time when capacity utilization is just over 80% in the United States.
The mill will have a 76-inch tandem cold mill and two galvanizing lines, including a construction-grade line and high-end automotive line. It will be able to produce 84-inch sheet products.
Construction is expected to take about two years.
The company may also build a transload and processing facility in West Virginia as a sister operation.
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