Market Segment
JSW Confirms ~$120M Mingo Junction Upgrade
May 2, 2023
JSW Steel USA plans to invest at least $119.4 million at its Mingo Junction, Ohio, steel plant for upgrades to enhance service to the growing renewable energy and infrastructure sectors, company, federal, state, and local officials said on Tuesday.
This confirms a report from last month that the company was planning to invest ~$160 million in the mill.
JSW representatives said they expect to exceed their $119.4 million commitment, investing up to $145 million at Mingo Junction, according to a press release from JobsOhio. The upgrade will create 26 jobs.
“These new investments reiterate JSW’s commitment to a sustainable and green future,” said JSW director Parth Jindal.
He said the investments and projects will help in producing high-quality “melted and manufactured in USA” steel slabs “required by our customers in the infrastructure and renewable energy sectors.”
JobsOhio said it plans to provide assistance for the project, which will be made public after a final agreement is executed.
On April 19, the Jefferson County Port Authority OK’d a reimbursement resolution in anticipation of issuing $160 million in tax-exempt conduit revenue bonds to facilitate vacuum tank degasser and caster upgrades at JSW Steel’s Mingo Junction plant, the release said.
The Mingo Junction mill has an electric-arc furnace and a hot strip mill with rated capacities of 1.65 million and 3.08 million tons per year, respectively, according to AIST’s Iron and Steel Works directory.
By Ethan Bernard, ethan@steelmarketupdate.com
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