Steel Mills
Nucor Ups Estimate for W.Va. Sheet Mill to $3.1B
February 23, 2023
Nucor Corp. has increased its cost estimate for its new sheet steel mill in West Virginia by ~$400 million.
The Charlotte, N.C.-based steelmaker said Feb. 23 that its board approved additional capital for the project. The company now expects a net cash outlay of ~$3.1 billion for the West Virginia electric-arc furnace (EAF) sheet mill, up from $2.7 billion when it first announced the project in September 2021.
The new mill is expected to have annual capacity of 3 million tons per year. It’s located in Mason County along the Ohio River.
“We remain incredibly excited about our Nucor Steel West Virginia mill and its advanced capabilities that will expand our ability to provide our customers with the cleanest and highest-quality steel products, particularly for demanding automotive and construction applications,” Leon Topalian, Nucor chair, president, and CEO, said in a statement.
The revised $3.1-billion figure is net of $275 million in cash proceeds received from the state of West Virginia for costs related to the site location in Apple Grove, W.Va., Nucor said.
Factors Nucor cited for the cost increase include general inflation, the acquisition of additional property and equipment, and expanded port and rail infrastructure requirements.
Nucor Steel West Virginia has received all required state permits and is working to secure federal permits this spring, the company said.
Nucor added that construction is expected to take 2-3 years once all necessary permit approvals have been received. Nucor Steel West Virginia is actively hiring workers, with a workforce of approximately 800 expected when the mill is fully operational.
The new mill will be equipped to produce 84-inch sheet products. It will include a 76-inch tandem cold mill and two galvanizing lines capable of producing advanced high-end automotive and construction grades.
Ethan Bernard, ethan@steelmarketupdate.com
Latest in Steel Mills
Algoma to shut down line in Ontario ahead of EAF start
The 106” Mill was part of Algoma's plate and strip combination facility.
Nippon trial vs. US government to begin early next month: Report
Nippon Steel’s litigation against the US government is set to begin in early February, according to a report by Japan’s Kyodo News Agency. Nippon will file its opening brief on Feb. 3. And both parties will conclude their claims by March 17 in the US Court of Appeals for the District of Columbia Circuit, Kyodo […]
Nucor carbon targets certified by GSCC
Nucor’s “ambitious” carbon targets by the end of the decade and beyond have been certified by the Global Steel Climate Council (GSCC). The Charlotte, N.C.-based steelmaker used a base year of 2023 for its science-based emissions targets (SBET). It set an SBET of 0.975 metric tons (mt) of CO2 emissions per mt of hot-rolled steel […]
SSAB halts talks with Feds on Miss. green steel plant
The Department of Energy's Industrial Demonstrations Program page states that it is no longer moving forward with SSAB.
Cleveland-Cliffs CEO seeks ‘American solution’ for U.S. Steel
He said a new entity would operate under the U.S. Steel name and would retain its Pittsburgh headquarters.