Steel Mills
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
Latest in Steel Mills
CRU: Tata Steel looks to shed 1,600 jobs in the Netherlands
The company said, “The challenging demand conditions in Europe driven by geopolitical developments, trade and supply chain disruptions and escalating energy costs have affected the operating costs and financial performance."
Reports: Federal funding for Cliffs’ project could be slashed
Elon Musk's DOGE is determining which Department of Energy grants to advance and which ones to terminate, according to several media outlets
Trump still against selling USS to Japanese firm: Report
Despite ordering a new review of Nippon Steel’s bid for U.S. Steel, President Trump said he is still against selling USS to a Japanese company, according to media reports.
Algoma looks to sell more steel in Canada in wake of Trump’s tariffs
The Canadian steelmaker said its absorbing higher tariffs as it moves forward.
Ancora abandons plan to take over leadership of USS
Investment firm Ancora Holdings Group has halted its play for U.S. Steel's board, citing Nippon Steel’s proposed bid for USS “gaining momentum.”